Question: Read the models for the aggregate demand and aggregate supply of real goods and services in the economy in Farnham Chapter 14. Briefly explain and

Read the models for the aggregate demand and aggregate supply of real goods and services in the economy in Farnham Chapter 14. Briefly explain and illustrate the effects on the aggregate supply curves, aggregate demand, equilibrium (aggregate) price (level) and equilibrium (aggregate) real output or GDP of a rise in oil prices in the 1970s and an increase in real money supply.

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