Question
One of the uses of economic models is to predict what will happen in different situations. The AS/AD model can be used to predict what
One of the uses of economic models is to predict what will happen in different situations. The AS/AD model can be used to predict what will happen to Real GDP and the Price Level (inflation) given a scenario.
Provide a short description of a Zombie Apocalypse scenario.
- Describe how it will affect one of the major economic variables (consumption, investment, government expenditures, imports and exports, capital, profits, labor force, banking, money...)
2.Will the affect primarily change AS or AD? Why and How?
3.What would be the expected affect on Real GDP and the Price Level?
4.You may do 2 different economic variables or scenarios.
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Macroeconomics Principles and Applications
Authors: Robert e. hall, marc Lieberman
5th edition
1111397465, 9781439038970, 1439038988, 978-1111397463, 143903897X, 9781439038987, 978-1133265238
