Unformatted text preview: Aggregate demand, under what
conditions might it be possible to have an increase in the price level even as GDP
falls? Professor Elliott Spring, 2013 18) All else being equal, what is the short- and long run effects on output and the
price level due to an sudden increase in the price of oil?
19) Assume that due to concern over the continuing crisis in banking on Cyprus, the
value of the Euro falls relative to the Dollar at the same ti...
View Full Document