A significant productivity slowdown occurred in the US during the 1970s and 1980s.  A large part of it occurred in industries closely related to the oil and energy crises of the 1970s.  Using concepts of aggregate demand and supply, explain the effects we expect to have in the US economy as a result of this slowdown.  Now suppose that monetary authorities decide to increase the growth rate of money in order to stimulate spending growth and boost employment.  What impact would you expect this to have on the economy?

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