A ship gets stuck in the Suez Canal that shuts down shipping lanes. If we start in equilibrium, what happens?   Aggregate demand to shift left.   Short-run aggregate supply to shift right.   Short-run aggregate supply to shift left.   Aggregate demand to shift righ

Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter15: Macroeconomic Viewpoints: New Keynesian, Monetarist, And New Classical
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Problem 16E
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A ship gets stuck in the Suez Canal that shuts down shipping lanes. If we start in equilibrium, what happens?

 

Aggregate demand to shift left.

 

Short-run aggregate supply to shift right.

 

Short-run aggregate supply to shift left.

 

Aggregate demand to shift right.

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