Rising oil prices will lead to decreased employment

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“Rising oil prices will lead to decreased employment, lower wage rates and decreased real money balances.” Comment on this statement with the help of an AD-AS diagram and explain the short-run and long-run adjustment processes.

Reference no: EM131006556

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Rising oil prices will lead to decreased employment : “Rising oil prices will lead to decreased employment, lower wage rates and decreased real money balances.” Comment on this statement with the help of an AD-AS diagram and explain the short-run and long-run adjustment processes.

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