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The cost of energy suddenly and unexpectedly increases sharply due to a temporary shut down of several sources of energy. The shock could be a

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The cost of energy suddenly and unexpectedly increases sharply due to a temporary shut down of several sources of energy. The shock could be a supply disruption of oil or a major power plant shutting down for an unexpected repair. What are the short- and long-term effects of the shock? [Note: you may use the aggregate demand and supply graph to describe the effects] P LRAS

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