The diagram below shows an AD/AS model for a hypothetical economy.The economy begins in long-run equilibrium at point A. 
FIGURE 24-3
-Refer to Figure 24-3.A negative shock to the economy shifts the AD curve from 
to 
.The initial effect is
Definitions:
Strategic HR Operations
The planning and implementation of human resource practices in alignment with an organization's long-term goals.
Information Technology
The use of computers, networks, and other electronic devices for storing, retrieving, transmitting, and manipulating data.
Knowledge Repositories
Centralized databases or systems where an organization’s collective knowledge is stored, managed, and shared among stakeholders.
E-HR Functions
The use of digital technologies to manage and deliver human resource services, such as recruitment, training, and performance management.
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