The question asked that suppose that the Organization of Petroleum Exporting Countries raises oil prices by 50 percent in 2005. What effect will thishave on the U.S. Aggregate demand curve? On the U.S. Short-run aggregate supply curve?© BrainMass Inc. brainmass.com December 19, 2018, 9:30 pm ad1c9bdddf
When the price of oil increase, the general price level will rise too, due to the increasing transportation costs. This ...
U.S. Aggregate demand curve is assessed.