Imported oil gets cheaper.Instructions: Grab either the AD or AS curve and drag and drop it to a new position to represent the resulting shift in AD or AS.
Question
Solution 1
When imported oil gets cheaper, it reduces the cost of production for goods and services that use oil as an input. This leads to an increase in the supply of these goods and services, which is represented by a rightward shift in the Aggregate Supply (AS) curve.
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