Macroeconomics
What does 'double jeopardy' mean in the context of supply shocks?
How can a supply shock lead to a rightward shift in the short run Phillips curve?
How does a supply shock affect the economy in the AD-AS model and the Phillips curve?
What causes a rightward shift in the short run Phillips curve due to a supply shock?
What is a supply shock?
What is the relationship between a decrease in aggregate supply and changes in inflation and unemployment rates?
If the short run aggregate supply curve shifts left due to a supply shock, what happens to GDP and price levels?
How does an increase in input prices, like gasoline, affect the short run Phillips curve?
What challenges do policymakers face when inflation and unemployment increase simultaneously?
What happens to GDP and price levels when the short run aggregate supply curve shifts left?
