Utilize the sticky-income theory of cumulative

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Reference no: EM1323108

Q. Assume which the economy is in a long-run equilibrium.

a- Draw a diagram to illustrate the state of the economy .Be sure to Demonstrate cumulative demand, short-run cumulative provide also long-un cumulative provide.

b-Now assume that a stock-marketplace crash causes cumulative demand to fall. Utilize your diagram to demonstrate what happens to o/p also the price level in the short- run what happens to the unemployment rate?

c- Utilize the sticky-income theory of cumulative provide to explain illustrate what will take place to o/p also the price level play in this adjustment? be sure to illustrate your analysis in a graph

Reference no: EM1323108

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