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Suppose that the economy is currently at potential output. Also suppose that you are an economic...

Suppose that the economy is currently at potential output. Also suppose that you are an economic policy maker and that a college economics student asks you to rank, if possible, your most preferred to least preferred type of shock: positive demand shock, negative demand shock, positive supply shock, negative supply shock. How would you rank them and WHY in terms of the AS-AD Model? Additionally describe an economic shock (that has not been described by another student) that has occurred in the last 120 years and the effect on the economy. A shock has economy wide effects, so please do not confuse a failure in the tomato crop as a shock as it is not - such a failure would be an issue for basic supply and demand

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