Adverse shocks such as the crop failures of 1972-1973 and the oil price increases of 1974 and 1979 pushed the economy's

Name: Adverse shocks such as the crop failures of 1972-1973 and the oil price increases of 1974 and 1979 pushed the economy's
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Adverse shocks, such as crop failures or oil price increases, tend to decrease aggregate supply by increasing production costs or decreasing the availability of inputs. This leads to a leftward shift of the aggregate supply curve.

Adverse Shocks Such as the Crop Failures of 1972-1973 and the Oil