Explain whether each of the following events shifts the short-run aggregate-supply curve, the aggregate-demand curve, both, or neither. For each event that does shift a curve, use a diagram to illustrate the effect on the economy. d A significant amount of iron ore is found in Western Australia, capable of supplying world trade for the next 50 years.
Explain whether each of the following events shifts the short-run aggregate-supply curve, the aggregate-demand curve, both, or neither. For each event that does shift a curve, use a diagram to illustrate the effect on the economy. d A significant amount of iron ore is found in Western Australia, capable of supplying world trade for the next 50 years.
Chapter4: The Aggregate Economy
Section: Chapter Questions
Problem 4E
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Explain whether each of the following events shifts the short-run aggregate-supply curve,
the aggregate-demand curve, both, or neither. For each event that does shift a curve, use a
diagram to illustrate the effect on the economy.
d A significant amount of iron ore is found in Western Australia, capable of supplying
world trade for the next 50 years.
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