Production of agricultural products to decrease

Reference no: EM13784048

Question: Using AD/AS analysis, verbally and graphically explain how and why each of the following affects the equilibrium price level and output in the short run. Assume the economy starts at Potential GDP. (This question is worth 20 points if correctly answered.)

a. Bad weather in the United States causes the production of agricultural products to decrease.

Reference no: EM13784048

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