Question content area left Part 1 Analyze the effects of a temporary increase in the price of oil (a temporary adverse supply shock). Because the supply shock is temporary, you should assume that the expected future MPK and households' expected future incomes are unchanged. Assume throughout that output and employment remain at full-employment levels (which may change). Part 2 The effect on: current output decrease left parenthesis down arrow right parenthesis , employment decrease left parenthesis down arrow right parenthesis , and the real wage decrease left parenthesis down arrow right parenthesis . Part 3 In the diagram to the right, show the effect of this shock. Using the line drawing tool, show the effect of this shock. Properly label this line. Part 4 Carefully follow the instruction above, and only draw the required object.