3. Using the aggregate demand and aggregate supply (AD-AS) diagram, explain what will happen to the equilibrium price level and Real GDP when each of the following events occurs: (1) A technological advancement in agricultural sector. (ii) The Malaysian government's economic stimulus package of RMS billion. (iii) An appreciation of Ringgit Malaysian (RM).
3. Using the aggregate demand and aggregate supply (AD-AS) diagram, explain what will happen to the equilibrium price level and Real GDP when each of the following events occurs: (1) A technological advancement in agricultural sector. (ii) The Malaysian government's economic stimulus package of RMS billion. (iii) An appreciation of Ringgit Malaysian (RM).
Chapter5: Introduction To Macroeconomics
Section: Chapter Questions
Problem 3.4P
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