Suppose that because of globally adverse meteorological conditions, there are serious concerns of climbing prices in...

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Suppose that because of globally adverse meteorological conditions, there are serious concerns of climbing prices in an extensive group of commodities. As a result, people now expect an acute increase in the level of input prices. Consider the graph of aggregate demand (AD), aggregate supply (AS), and potential GDP Move one or more of these carves to describe the short run effect this has in the economy POP AS RGDP As a result, the price level in the economy and real GDP decreases Suppose that because of globally adverse meteorological conditions, there are serious concerns of climbing prices in an extensive group of commodities. As a result, people now expect an acute increase in the level of input prices. Consider the graph of aggregate demand (AD), aggregate supply (AS), and potential GDP Move one or more of these carves to describe the short run effect this has in the economy POP AS RGDP As a result, the price level in the economy and real GDP decreases