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Provide an explanation of the short-run effect including the determinant of AD or AD that is causing the shift, the line that shifts (AD or

Provide an explanation of the short-run effect including the determinant of AD or AD that is causing the shift, the line that shifts (AD or AS), the direction of the shift (Left or Right, and the impact on output and price level (increase or decrease). With a properly drawn and labeled aggregate demand and aggregate supply graph for the scenario.

  1. Tourists flock to visit the major theme parks in Orlando, Florida
  2. The price of a barrel of oil, a rescource used by manufacturers, skyrockets amid wild speculation on Wall Street.
  3. An economic crisis increases the degree of excess capacity in a nation.

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