This slight decline in oil prices is good news because if oil prices had risen because of a shortfall in supply, Gross Domestic Product would surely have fallen. This is true because the higher oil prices serve as a tax on consumers, leaving them less money to spend on other goods. Thus, an increase in oil prices causes the short run aggregate supply to shift inward, putting upward pressure on the price level until demand can adju

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Approximate Word count = 291
Approximate Pages = 1 (250 words per page double spaced)