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# Explain what happens to output in the short run in each of the following circumstances

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Explain what happens to output in the short run in each of the following circumstances:

a) There is deep recession in Europe.

b) Housing values rise above their trend.

c) Mortgage lenders raise interest rates.

d) The government decides to close 20 percent of its military bases around the

country.

e) The long-run interest rate rises.

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## [Solved] Explain what happens to output in the short run in each of the following circumstances

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- Submitted On 20 Jan, 2015 08:13:48

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Housing values rise above their trend.

This can have many effects. One effect is that people may want to buy more houses expecting the trend to continue. If this h...

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