Oil is an important input into the NZ production of petrol. The main immediate impact of an oil price increase is that_______would________. This would shift the_________ which__________ and_______. Suppose that the economy is now away from long run equilibrium. The way that the economy adjusts back to equilibrium is that_________ _________ This shifts the____________.

Q: None

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Q: short-run equilibrium?

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Q: None

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Q: economic outcome

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Q: answer only question 2 pls

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