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In August 2019, Hurricane Dorian wreaked havoc throughout the Caribbean. Dorian was the most powerful tropical...

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Economics

In August 2019, Hurricane Dorian wreaked havoc throughout theCaribbean. Dorian was the most powerful tropical hurricane onrecord to strike the Bahamas, and is regarded as the worst naturaldisaster in the country's history. Estimates suggest the totaldamage could cost almost $3 billion dollars. Use the one- periodclosed-economy macro model to understand the economic effects ofthis loss in capital. In other words, imagine a decrease in K. Foreach of the following questions, state how each variable wouldchange, if at all, and provide a brief discussion explaining youranswer: (a) Output (b) Marginal product of labour (c) Real wage (d)Consumption (e) Leisure

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How to solve Part B