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In April and May of 2022, the world price of oil increased in price significantly. The province of Alberta is a significant oil producer. Discuss
- In April and May of 2022, the world price of oil increased in price significantly. The province of Alberta is a significant oil producer. Discuss this development regarding the economic factors below.
Determine the effects of this change on Canada's (All question parts worth 2 Marks):
- GDP
- Unemployment rate.
- Long-run Supply of oil and gas
- Short-run Demand for oil and gas
- Inflation
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Microeconomics
Authors: David Besanko, Ronald Braeutigam
5th edition
1118572270, 978-1118799062, 1118799062, 978-1118572276
