For the question below, the short-run effect (including the determinant of AD or AS that is causing the shift, the line that shifts (AD or AS), the direction of the shift (left or right), and the impact on output and price level (increase or decrease) and submit a properly drawn and labeled aggregate demand and aggregate supply graph for the scenario. Make sure your name and assignment number are written on each page of graphs you submit. All text must be written in the text box provided.
The price of a barrel of oil, a resource used by manufacturers, skyrockets amid wild speculation on Wall Street.
I understand how to answer the question and have already given the explanation but do not know how to draw or label a aggregate demand and aggregate supply graph. How would I go about doing so?
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