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| Topic: |
Science
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| Number of pages / Number of words: |
5 / 1381 |
Essay's paper body
In order to get a clearer picture of what's going on in every economy I will closely consider the graph where this changes can be seen.
Having drawn the appropriate graph it is much easier to analyze the economic implications from an adverse supply shock that is caused mainly by the oil crisis . It is obvious to see the changes that have been made with the raise of the oil prices to an economy...
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It is obvious to see the changes that have been made with the raise of the oil prices to an economy. We have an upward shift of the SRAS from point P1 to point P2, which was caused, by the increase of the price. Furthermore, this change has moved the output from point Y1 to Y2 and initiated stagnation, which is the main impact on the economy from the oil crisis...
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