Question: For the country Westeros, using the AD-AS framework explain the impact of the following phenomenon on its Price and Output levels: (2.5*2 = 5) i)

For the country Westeros, using the AD-AS framework explain the impact of the following phenomenon on its Price and Output levels: (2.5*2 = 5) i) Discovery of new oil reserves in Westeros. ii) Ceteris paribus, the currency of Westeros depreciates.

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