A decrease in the availability of an important major resource such as oil shifts aggregate supply left.
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Q22: For any given growth rate of aggregate
Q23: Aggregate supply grows over time because of
Q24: A period of stagflation is part of
Q25: If short-run equilibrium GDP is above potential
Q26: If aggregate demand is $2,000 billion and
Q28: Inflation reduces the multiplier effect by reducing
Q29: When equilibrium GDP is below potential GDP,
Q30: When equilibrium GDP is greater than potential
Q31: A vertical aggregate supply curve increases the
Q32: Recessionary gap is the amount by which
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