Now, suppose the economy is back in longrun equilibrium, and then the price of imported oil rises. 0n the following graph, shift a curve or adjust the point to reect the shortrun effect of the increase in the price of oil. (9 I LRPC SRPC I ShortRun Effect + Inflation Rats LRPC PC Unemployment Rate Suppose the economy is in a long-run equilibrium, as shown on the following graph. Now suppose a wave of business pessimism reduces aggregate demand. On the following graph, shift a curve or adjust the point to reflect the short-run effect of business pessimism. LRPC O SRPC Short-Run Effect Inflation Rate O LRPC SRPC Unemployment Rate