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What are the sources of determinants of energy price shocks.
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- Detail the macroeconomic policies that might be used to tackle the effects of a severe negative supply shock and explain the dilemmas faced.define adaptive expectations what is its main implicationIf the economy has rational expectations and the model is sticky price model. Could you explain why the following statement true in macroeconomics?
- Explain why a supply shocks is most of the time believed to be temporary? And does not result in government requiring to do any special policy to rectify the problem.Give a one line definition for the term "DEFICIENT DEMAND" In macro economics.Suppose that due to more stringent environmental regulation it becomes more expensive for steel production firms to operate. Also, recent technological advances in plastics has reduced the demand for steel products. Use Supply and Demand analysis to predict how these shocks will affect equilibrium price and quantity of steel. Can we say with certainty that the market price for steel will fall? Why?