In August 2020, Haiti and the Dominican Republic, two Caribbean
economies, were hit by hurricane Laura, experiencing a negative
aggregate supply shock as a result.(a)Haitians assume this is a
one-time shock, so it is expected to have no wealth effects.Use the
labor market and the production function to describe the effects on
employment, output, and the real wage. (b) In the Dominican
Republic the shock is believed to be permanent, so there is a
negative wealth effect. Redo (a). What...