What is this undesirable state of economy called

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Reference no: EM13739540

The US government has been involved in the Persian Gulf regions, in Iraq and in Afghanistan, in order not to let the terrorist groups take over and control the oil supplies and the shipments of oil to the rest of the world. Economically justify this policy and show that a considerable increase in the price of oil will result in a very undesirable state of economy. What is this undesirable state of economy called? Briefly explain and show it graphically (AD and AS).

Reference no: EM13739540

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