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Long-run: Assume you are examining the economy of India. Assume the Indian economy is initially in equilibrium. Suppose a war breaks out between India and neighboring Pakistan. What happens to Indian equilibrium if

Long-run: Assume you are examining the economy of India. Assume the Indian economy is initially in equilibrium. Suppose a war breaks out between India and neighboring Pakistan. What happens to Indian equilibrium if

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Long-run: Assume you are examining the economy of India. Assume the Indian economy is initially in equilibrium. Suppose a war breaks out between India and neighboring Pakistan. What happens to Indian equilibrium if 500,000 Pakistanis immigrate to India in the span of a year? Analyze this strictly in the context of expenditure. Group of answer choices real GDP rises, price level rises real GDP rises, price level falls real GDP remains unchanged, price level rises real GDP remains unchanged, price level falls
Transcribed Image Text:Long-run: Assume you are examining the economy of India. Assume the Indian economy is initially in equilibrium. Suppose a war breaks out between India and neighboring Pakistan. What happens to Indian equilibrium if 500,000 Pakistanis immigrate to India in the span of a year? Analyze this strictly in the context of expenditure. Group of answer choices real GDP rises, price level rises real GDP rises, price level falls real GDP remains unchanged, price level rises real GDP remains unchanged, price level falls
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