The Russia-Ukraine war triggers a surging of crude oil price to a record high that leads to a negative supply shock of an economy. If the economy is currently at the full-employment output, how does it affect the aggregate price and real output level in the short- and long-run if the central bank does not carry out any stabilization policies? Explain with the aid of an aggregate demand-aggregate supply diagram. (10 marks) Price Level LRAS Y Output (b) SRAS AD