Event south korea macroeconomic equilibrium

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Reference no: EM131979987

Watch the video available at the following link, briefly explain the event concurring n the video. (South Korea's consumer confidence falls in August)

Assume that prior to the event South Korea's macroeconomic equilibrium was equal to potential GDP. Using the AD-AS model, explain carefully the immediate and long term effects of the event for the South Korean economy. Draw/describe by hand the appropriate AD-AS diagram to support your explanation.

Reference no: EM131979987

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