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i need the answer and why if possible. 3. A negative oil pri

Paper help Economics i need the answer and why if possible. 3. A negative oil pri

Economics

i need the answer and why if possible. 3. A negative oil pri

i need the answer and why if possible. 3. A negative oil price shock: It is common to blame some of… Show more i need the answer and why if possible. 3. A negative oil price shock: It is common to blame some of the poor macroeconomic performance of the 1970s on the rise in oil prices. In the middle of the 1980s, however, oil prices declined sharply. Using the AS/AD framework, explain the macroeconomic consequences of a one-time negative shock to the inflation rate, as might occur because of a sharp decline in oil prices. • Show less

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