Assume the economy is initially in a long run equilibrium. a. Use the AD-AS and the Phillips curve diagrams to show the

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answerhappygod
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Assume the economy is initially in a long run equilibrium. a. Use the AD-AS and the Phillips curve diagrams to show the

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Assume the economy is initially in a long run equilibrium. a. Use the AD-AS and the Phillips curve diagrams to show the short-run effects on prices (inflation) and output (unemployment) if a hurricane badly hit the economy's agricultural production. b. In order to stabilize prices what would central bank do with monetary policy (a)?
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