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Business, 19.07.2021 19:00 Thahani

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 and assume the economy was in long-run equilibrium before this change. Remember to consider only this change as you determine your answers. In the short run, the policy will cause the price level to , real GDP to , and the unemployment rate to .

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You work for Dr. Zhang, the autocratic dictator of Zhouland. After taking an economics course, you d...
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