A favourable shock to aggregate demand (e.g., an increase in the global demand for NZ exports) will typically result in and while a favourable shock to short-run aggregate supply (e.g., a decline in world oil prices) will typically result in and .

a) higher prices; higher output; lower prices; lower output

b) higher prices; higher output; higher prices; higher output

c) lower prices; higher output; lower prices; higher output

d) higher prices; higher output; lower prices; higher output