Question: Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram (or model) to analyze how an unexpected increase in the price of

Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram (or model) to analyze how an unexpected increase in the price of oil (i.e., petroleum) will affect the U.S. economy. Be sure to label the initial equilibrium and new equilibrium including the equilibrium price and equilibrium GDP if you draw a diagram

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