Homework Help: Macroeconomics

Posted by Tony on Monday, August 30, 2010 at 4:16pm.

Consider an open in which the aggregate supply curve slopes upward in the short run. Firms in this nation do not import raw materials or any other productive inputs from abroad, but foreign residents purchase many of the nations goods and service. What is the most likely short run effect on this economy if there is a significant downturn in economic activity in other nations around the world?

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