What will happen if there is discovery of a large amount of previously-undiscovered oil in the u.s. is that :
- In long-run aggregate-supply curve to the right.
- For aggregate supply curve shifts to the right, it can be deduced that at every price level, there is a production of higher quantity of real GDP.
- This is usually referred to as positive supply shock in economics.
Therefore, aggregate-supply curve to the right in the long run.
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