Explain events shifts the short-run aggregate supply curve

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Assignment:

Explain whether each of the following events shifts the short-run aggregate supply curve, the aggregate demand curve, both or neither. Explain your reasoning.

a. Gasoline prices jump from $3 a gallon to $5 a gallon.

b. The unemployment level is so low that employers struggle to find qualified workers to fill open jobs.

c. Inflation hits its highest level in 40 years.

d. An extended drought results in widespread wild fires with evacuation and destruction of several cities.

Reference no: EM133363986

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