The economy is in long-run macroeconomic equilibrium. Suppose that there is a temporary, but significant, increase in oil prices in an economy with an upward-sloping SRAS curve. Based on the situation, answer the following questions. a. How do the aggregate price level and aggregate output change in the short run as a result of the oil shock? What is this phenomenon known as? b. In this case, however, suppose that policymakers wish to prevent equilibrium real GDP from changing in response to the oil price increase. Should they increase or decrease the quantity of money in circulation? Why?