Dal - (a) When an increase in oil price occurs, how would economic agent such as firms and Central Bank respond to such nonmarginal price changes? - (b) In terms of price effects, the impact of energy price changes is often broken down into direct and indirect rst and secondround effects. With the aid of a diagram explain the transmission channels of these effects. - (c) According to Baumeister and Peersman oil price shocks are caused by three major factors. identify and discuss these factors by imposing economic restrictions on them