Question
Assume that the newly discovered oil reserves affected the world oil price. Illustrate and analyze the impact of the event on AD and AS diagrams,
Assume that the newly discovered oil reserves affected the world oil price. Illustrate and analyze the impact of the event on AD and AS diagrams, the Phillips curve diagram, and the money market diagram for country A. What would happen to inflation, unemployment, and interest rate in the short run and the long run?
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International Economics
Authors: Dominick Salvatore
12th edition
9781118955727, 1118955765, 1118955722, 978-1118955765
