Explain the effects of each of the following on aggregate demand (AD) or short-run aggregate supply (SRAS) by plotting an appropriate AD-AS diagram. Your answer must clearly explain what will happen to the equilibrium level and real GDP when each of the following occurs. a) A decrease in household monetary wealth b) Ringgit Malaysia appreciates c) An increase in the price of capital d) More educated workers are employed e) A nationwide drought lasting for many months f) An increase in labor productivity g) A 2% decrease in business taxes h) Households expect prices to fall
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