Answer to Question #73567 in Macroeconomics for Tummala Balakrishna

Question

report on the possible effects of the El Nina, which is likely to bring unusually good weather and bumper crops for most of India in 2013. However, 2014 is expected to be a bad year for agriculture with the El Nino coming back with a vengeance. What could be the short-run and long-run effects on output and prices? Explain using the AS-AD framework.

Answer 1

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