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d) During the 2008 global financial crisis, rising inflation, especially of food prices, had affected disposable incomes and thus causing reduction in consumption of many Malaysian households. Profits of businesses were also affected by rising costs. In addition, the global financial crisis was expected to have an adverse impact on the performance of the export sector. Global oil prices reached historical highs. As the fiscal costs of fuel subsidies became unsustainable, the Government raised domestic fuel prices by up to 40% on 4 June. Using the aggregate demand - aggregate supply model, show the effect of 2008 global financial crisis on the Malaysian economy.

d) During the 2008 global financial crisis, rising inflation, especially of food prices, had affected disposable incomes and thus causing reduction in consumption of many Malaysian households. Profits of businesses were also affected by rising costs. In addition, the global financial crisis was expected to have an adverse impact on the performance of the export sector. Global oil prices reached historical highs. As the fiscal costs of fuel subsidies became unsustainable, the Government raised domestic fuel prices by up to 40% on 4 June. Using the aggregate demand - aggregate supply model, show the effect of 2008 global financial crisis on the Malaysian economy.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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d) During the 2008 global financial crisis, rising inflation, especially of food prices, had affected disposable incomes and thus causing reduction in consumption of many Malaysian households. Profits of businesses were also affected by rising costs. In addition, the global financial crisis was expected to have an adverse impact on the performance of the export sector. Global oil prices reached historical highs. As the fiscal costs of fuel subsidies became unsustainable, the Government raised domestic fuel prices by up to 40% on 4 June. Using the aggregate demand - aggregate supply model, show the effect of 2008 global financial crisis on the Malaysian economy.
Transcribed Image Text:d) During the 2008 global financial crisis, rising inflation, especially of food prices, had affected disposable incomes and thus causing reduction in consumption of many Malaysian households. Profits of businesses were also affected by rising costs. In addition, the global financial crisis was expected to have an adverse impact on the performance of the export sector. Global oil prices reached historical highs. As the fiscal costs of fuel subsidies became unsustainable, the Government raised domestic fuel prices by up to 40% on 4 June. Using the aggregate demand - aggregate supply model, show the effect of 2008 global financial crisis on the Malaysian economy.
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