Draw graphs to show the effect of each of the following on the short-run aggregate supply curve:

Question:

Draw graphs to show the effect of each of the following on the short-run aggregate supply curve:
a. A decrease in the expected price level

b. A decrease in oil prices

c. The development of laptop computers that are 10 times faster than existing laptops

d. An increase in wages, resulting from output exceeding the full-employment level of output 

e. Severe winter storms that affect a large part of the United States

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Money, Banking, and the Financial System

ISBN: 978-0134524061

3rd edition

Authors: R. Glenn Hubbard, Anthony Patrick O'Brien

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