How will an increase in the world price of crude oil influence the economy of an oil-importing country such as
Japan?
Aggregate supply will increase, leading to a decrease in prices.
Aggregate supply will decrease, leading to a decrease in real GDP.
Aggregate supply will increase, leading to an increase in real GDP.
Aggregate supply will increase, leading to an increase in prices and smaller GDP.
Aggregate supply will decrease, leading to a decrease in price.