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Explain how each of the following events affects the AS curve. a. The Fed increases the money supply. Aggregate supply is unchanged Aggregate supply shifts
Explain how each of the following events affects theAScurve.
a. The Fed increases the money supply.
Aggregate supply is unchanged
Aggregate supply shifts to the right
Aggregate supply shifts to the left
b. Oil prices drop sharply.
Aggregate supply shifts to the left
Aggregate supply shifts to the right
Aggregate demand shifts to the right
Aggregate demand shifts to the left
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