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Labeled aggregate demand and aggregate supply graph

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Reference no: EM132422470

Assume that a country's economy is in long run equilibrium.

a). Using a correctly labeled aggregate demand and aggregate supply graph, show how an increase in the price of oil will affect the following the short run

  • overall outfit
  • Price level
  • describe the effect of the shift on AD & SRAS- what happened to age?

Reference no: EM132422470

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