In the short run, a supply shock that shifts the short-run aggregate supply curve leftward raises the price level and increases real GDP.

Name: In the short run, a supply shock that shifts the short-run aggregate supply curve leftward raises the price level and increases real GDP.
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A leftward shift in the short-run aggregate supply curve raises the price level but decreases real GDP, as it represents a reduction in the total supply of goods and services available in the economy at existing prices.

In the Short Run, a Supply Shock That Shifts the Short-Run