Oil prices fell dramatically in 1986. Use the WS - PS and ERU diagrams to explain the
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Oil prices fell dramatically in 1986. Use the WS - PS and ERU diagrams to explain the effect of this supply-side shock on a small open economy. At the initial real exchange rate, what has happened to real wages and the level of employment?
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Related Book For 
Macroeconomics Institutions Instability And The Financial System
ISBN: 9780199655793
1st Edition
Authors: Wendy Carlin, David Soskice
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