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Suppose an economy is hit by natural disaster and its natural resources decreases. a) Show graphically using AD-AS model how the price level and output

Suppose an economy is hit by natural disaster and its natural resources decreases.

a) Show graphically using AD-AS model how the price level and output are affected in the short-run.

b) Can the government use monetary policy to offset the effects on both price level and output simultaneously, explain?

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