In the graph, the economy is in long-run equilibrium at point A Now, assume that there...

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In the graph, the economy is in long-run equilibrium at point A Now, assume that there is an unexpected increase in the price of oil. 1.) Use the line drawing tool to show the resulting short-run equilibrium on your diagram. Label any new aggregate demand or aggregate supply curve as AD, SRAS, or LRAS, as appropriate. 2.) Use the point drawing tool to locate the new short- run equilibrium point. Label this point B. Carefully follow the instructions above, and only draw the required objects. Price level (GDP Deflator, 2012-100) Real GDP (ions of 2012 50lars) LRAS AD SRAS, a In the graph, the economy is in long-run equilibrium at point A Now, assume that there is an unexpected increase in the price of oil. 1.) Use the line drawing tool to show the resulting short-run equilibrium on your diagram. Label any new aggregate demand or aggregate supply curve as AD, SRAS, or LRAS, as appropriate. 2.) Use the point drawing tool to locate the new short- run equilibrium point. Label this point B. Carefully follow the instructions above, and only draw the required objects. Price level (GDP Deflator, 2012-100) Real GDP (ions of 2012 50lars) LRAS AD SRAS, a