Please answer the following Economics homework question?

Anonymous
timer Asked: Nov 14th, 2016

Question description

Draw a basic AS/AD graph (with LRAS constant) showing the economy in long-run equilibruim.  Assume that there is a large decline in the housing sector.  Show the resulting short-run equilibruim on your graph.  What happens to (1) the price level and (2) the real GDP (3) the unemployment rate?

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