Final answer:
An increase in the price of imported oil or a decrease in its availability is an example of a supply shock in macroeconomics, causing a leftward shift in the supply curve and impacting the equilibrium price and quantity of oil.
Step-by-step explanation:
In macroeconomic terms, an increase in the price of imported oil or a decrease in the availability of oil is an example of a supply shock. A supply shock refers to an unexpected and significant change in the supply of a key input, in this case, oil. A decrease in the availability of oil would result in a leftward shift in the supply curve, causing an increase in the equilibrium price and a decrease in the equilibrium quantity of oil.