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The Russia-Ukraine war triggers a surge of crude oil prices to a record high that leads to a negative supply shock of an economy. If
The Russia-Ukraine war triggers a surge of crude oil prices to a record high that leads to a negative supply shock of an economy. If the economy is currently at the full employment output, how does it affect the aggregate price and real output level in the short and long run if the central bank does not carry out any stabilization policies Explain with the aid of an aggregate demand aggregate supply diagram.
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