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2.3.2 Short-run AS

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Question 3

Wholesale natural gas prices in European markets escalated from approximately 40 pence per therm in early 2021 to unprecedented heights exceeding 450 pence per therm in late 2022.

Evaluate the likely macroeconomic consequences of a sustained and significant surge in wholesale energy prices for a net energy-importing economy.

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2.3.2 Short-run AS Questions

  1. A Level
  2. /Economics
  3. /2.3.2 Short-run AS