An economy is a major net exporter of liquefied natural gas (LNG). Draw an AD/AS diagram to show the effect of a severe and sustained fall in the global market price of LNG on the equilibrium level of real national output and the price level of this economy.
16 exam-style questions on Edexcel A A Level Economics 2.2.5 Net trade (X-M). Each one has a worked solution and a mark scheme showing where the marks go.