Describe each of the following as a positive demand shock,a negative demand shock,a positive supply shock,or a negative supply shock,and specify how each is represented on the Phillips curve.
a. a sudden increase in oil prices
b. a large increase in spending on residential construction
c. a sudden decrease in household wealth resulting from a stock market crash
d. a substantial increase in productivity following technological advancements

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The Answer of Describe each of the following as a positive demand shock,a negative demand shock,a positive supply shock,or a negative supply shock,and specify how each is represented on the Phillips curve.
a. a sudden increase in oil prices
b. a large increase in spending on residential construction
c. a sudden decrease in household wealth resulting from a stock market crash
d. a substantial increase in productivity following technological advancements

Describe Each of the Following as a Positive Demand Shock,a