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In the above figure the economy is producing $10 trillion real GDP with a price level of 90. The world oil price suddently shoots up.
In the above figure the economy is producing $10 trillion real GDP with a price level of 90. The world oil price suddently shoots up. This surprise causes Question 16 options: 1) AD0 to shift to AD1. 2) SAS0 to shift to SAS1. 3) AD0 to shift to AD1 and SAS0 to shift to SAS1. 4) SAS0 to shift righftward
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Principles Of Macroeconomics
Authors: Lee Coppock, Dirk Mateer
2nd Edition
0393614093, 9780393614091
