The following event has occurred in the history of the United States: The world oil price rises sharply. Explain for event whether it changes short-run aggregate supply, long-run aggregate supply, aggregate demand, or some combination of them.
The following event has occurred in the history of the United States: The world oil price rises sharply. Explain for event whether it changes short-run aggregate supply, long-run aggregate supply, aggregate demand, or some combination of them.
Chapter20: Aggregate Demand And Supply
Section: Chapter Questions
Problem 11SQ
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Question
The following event has occurred in the history of the United States:
- The world oil
price rises sharply.
- Explain for event whether it changes short-run
aggregate supply , long-run aggregate supply, aggregate demand, or some combination of them.
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