3. Shocks (20 points). In the table below, classify the following developments as shocks to ag- gregate supply (AS) or aggregate demand (AD) and show whether they are stimulative (+) or restrictive (-) with respect to output and with respect to prices. rI . Oil price surge Equity market crash Heightened fear of job losses Deregulation of airlines, nance and telecommunications Sales tax holiday Fed increases interest rate paid on reserves Improved inventory control Government limits workweek P95199195?!\" Better information technology is developed pn .0 Fed embarks on quantitative easing Shock Type of Shock Output Effect Price Effect Oil Price Surge Equity Crash Heightened Fear of Job Losses Deregulation Sales tax holiday Fed increases interest paid on reserves Improved inventory control Government limits workweek Better information technology Fed embarks on quantitative easing