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Question 130

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Consider Figure 12.14 below, which shows the price of oil from January 2005-December 2010. What are the impacts of this on the macroeconomy? In particular, which macroeconomic relationship does this impact? Explain.Figure 12.14: Percent Change Oil Price Consider Figure 12.14 below, which shows the price of oil from January 2005-December 2010. What are the impacts of this on the macroeconomy? In particular, which macroeconomic relationship does this impact? Explain.Figure 12.14: Percent Change Oil Price

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Oil prices are a form of cost shock, blured image , ...

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