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Suppose fishermen, for some national-security reasons, are suddenly prevented from venturing to the West Philippine Sea, which is an important source of the country's food supply. This leads to a sudden decrease in the available fish stocks for consumption. What are the short-run consequences of this adverse shock? (Assume that the price level P does not affect consumption.) O a. O b. P falls and Y increases. P rises and Y decreases. O c. Premains the same and Y increases. O d. P remains the same and Y decreases.

Suppose fishermen, for some national-security reasons, are suddenly prevented from venturing to the West Philippine Sea, which is an important source of the country's food supply. This leads to a sudden decrease in the available fish stocks for consumption. What are the short-run consequences of this adverse shock? (Assume that the price level P does not affect consumption.) O a. O b. P falls and Y increases. P rises and Y decreases. O c. Premains the same and Y increases. O d. P remains the same and Y decreases.

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Suppose fishermen, for some national-security reasons, are suddenly prevented from venturing to the West Philippine Sea, which is an important source of the country's food supply. This leads to a sudden decrease in the available fish stocks for consumption. What are the short-run consequences of this adverse shock? (Assume that the price level P does not affect consumption.) O a. P falls and Y increases. O b. P rises and Y decreases. O c. P remains the same and Y increases. O d. P remains the same and Y decreases.
Transcribed Image Text:Suppose fishermen, for some national-security reasons, are suddenly prevented from venturing to the West Philippine Sea, which is an important source of the country's food supply. This leads to a sudden decrease in the available fish stocks for consumption. What are the short-run consequences of this adverse shock? (Assume that the price level P does not affect consumption.) O a. P falls and Y increases. O b. P rises and Y decreases. O c. P remains the same and Y increases. O d. P remains the same and Y decreases.
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