The text book: Robert H. Frank, Ben S. Bernanke, Kate
Antonovics, Ori Heffetz - Principles Of Economics 7
Answer this question using the concepts discussed in
Textbook Ch. 27 and assume that, initially, the economy is in its
long run equilibrium.
“The global economy will contract by 3% this year as countries
around the world shrink at the fastest pace in decades, the
International Monetary Fund says. The IMF described the global
decline as the worst since the Great Depression...