Define any key terms that you feel are important in answering the following ques

Question

Define any key terms that you feel are important in answering the following question as they are defined in the textbook and explain, in your own words what those definitions mean , and then thoroughly analyze each situation to answer the following questions.

An economy in a hypothetical country is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs. What kind of gap—inflationary or recessionary—will the economy face after the shock, and what type of fiscal policies, giving specific examples, would help move the economy back to potential output?

Explanation / Answer

The reason why no one answered this question yesterday is that you mention "each of the following aggregate demand shocks occurs", but don't name any. So really there is nothing to answer here. If you added more information, people would reply.

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