A favourable shock to aggregate demand (e.g., an increase in the global demand for NZ exports), ceteris paribus, will typically result in and while a favourable shock to short-run aggregate supply (e.g., a decline in world oil prices), ceteris paribus, will typically result in and .
Group of answer choices
higher prices; higher output; lower prices; higher output
higher prices; higher output; lower prices; lower output
higher prices; higher output; higher prices; higher output
lower prices; higher output; lower prices; higher output