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Question: You work for Dr. Zhang, the autocratic dictator of Zhouland. After taking an economics course, you decide that devaluing your currency (Zhoullars) is the way to increase GDP. Following your advice, Dr. Zhang orders massive increases in the supply of Zhoullars, which reduces the value of Zhoullars in world markets. Use the AD-AS model to determine the effects to real GDP, unemployment, and the price level in Zhouland in both the short run and the long run. Assume the economy was in long-run equilibrium before this change and consider only this stated change.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92290293

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