16. Assume that there are discoveries of new oil fields Which determinant? A AD or A AS?

ENGR.ECONOMIC ANALYSIS
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Kindly provide a correct answer and a detailed explanation with proper drawings; otherwise, I will have to give multiple downvotes. Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
16. Assume that there are discoveries of new oil
fields
Which determinant?
A AD or A AS?
P
LRAS
SRAS
P₁
What happens to:
Price Level
Real GDP
Inflation
Unemployment
Economic Growth
AD
Y
YF
Transcribed Image Text:16. Assume that there are discoveries of new oil fields Which determinant? A AD or A AS? P LRAS SRAS P₁ What happens to: Price Level Real GDP Inflation Unemployment Economic Growth AD Y YF
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