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LUBS1951 Macroeconomics > Topic 6 - IS-LM model Two > Flashcards

Topic 6 - IS-LM model Two Flashcards

1
Q

What are some reasons why oil price shocks have different effects in the 2000s versus the 1970s

A

Worker bargaining power was higher in the 1970s
Firms face more global competition now
Workers have more global competition now
We use oil more efficiently now

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LUBS1951 Macroeconomics (10 decks)

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