Case Study:2.65 Points) Please read the case oil and the Economy" from Chapter 20 "Aggregate Demand and Aggregate Supply

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Case Study 2 65 Points Please Read The Case Oil And The Economy From Chapter 20 Aggregate Demand And Aggregate Supply 1 (23.27 KiB) Viewed 49 times

Case Study:2.65 Points) Please read the case oil and the Economy" from Chapter 20 "Aggregate Demand and Aggregate Supply" Page: - 750 - Chapter 33 given in your textbook - Principles of Macroeconomics". A case study discusses the model of aggregate demand and aggregate supply explains the economic fluctuations. Questions: 2.1. Explain the short-run and long-run impacts of oil price increase on output and price level in the U.S. during 1973-1975 periods using the model of aggregate demand and aggregate supply. (2.5 points) 2.2. Explain the short-run and long-run impacts of oil price fall on output and price level in the U.S. in 1986, using the model of aggregate demand and aggregate supply (2.5 points) Important Note: - Support your submission with course material concepts, principles, and theories from the textbook and at least two scholarly, peer- reviewed journal articles.