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Answer to Question #243158 in Economics for Noxie

Question #243158
Use AD -AS model to illustrate and explain the impact of the devastating drought on the general price level and the level of real production and income in the economy
1
Expert's answer
2021-09-27T15:44:36-0400

The devastating drought will decrease aggregate supply (AS), as a result the general price level will increase, the level of real production will decrease, and income in the economy will decrease.


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