Suppose that in the first half of June 2022, the effects of a housing and financial crisis and an increase in world prices of oil and foodstuffs were affecting the economy. Refer to Scenario 36-1. In the short run the increased prices of world commodities a. raised both the price level and output. b. reduced both the price level and output. c. raised the price level and reduced output. d. reduced the price level and raised output