Scenario 35-1 Suppose that in the first half of June 2022, the effects of a housing and financial crisis and an increase in world prices of oil and foodstuffs were affecting the economy. Refer to Scenario 35-1. The effects of the housing and financial crises could be shown by shifting a. aggregate supply to the left. b. aggregate demand to the right. c. aggregate demand to the left. d. aggregate supply to the right. Scenario 35-1 Suppose that in the first half of June 2022, the effects of a housing and financial crisis and an increase in world prices of oil and foodstuffs were affecting the economy. Refer to Scenario 35-1. In the short-run the effects of the housing and financial crises a. raise the inflation rate and reduce the unemployment rate. b. reduce both the inflation rate and the unemployment rate. c. raise both inflation and the unemployment rate. d. reduce the inflation rate and raise the unemployment rate.