drop down option for the first question:

- only the AS curve

- only the AD curve

- both the AD and AS

drop down option for the second question:

- decrease

- increase

- no change

drop down option for the third question:

- decrease

- increase

- no change

Each of the following events caused a shift in the AD or AS curve in Canada. Identify which curve was affected and describe the effect on equilibrium real GDP and the price level. a. OPEC's actions to restrict oil output signicantly increased the world price of oil in 19791980. Canada is a net exporter of oil. This event caused a shift in only the AS curve in Canada, causing a decrease in equilibrium real GDP and an increase in the price level