An Increase in Oil Prices Will Shift the Short-Run Aggregate

question 26

Multiple Choice

An increase in oil prices will shift the short-run aggregate supply curve

• A)up and to the left, causing the level of current output to fall.
• B)up and to the left, causing the level of current output to rise.
• C)down and to the right, causing the level of current output to rise.
• D)down and to the right, causing the level of current output to fall.

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Definitions:

Collectivists

describes individuals or cultures that prioritize the group over individual interests, emphasizing community, cooperation, and interdependence.

Anal Fixation

A stage in Freudian psychoanalytic theory where an individual fails to progress beyond the anal stage of psychosexual development, leading to personality traits such as obsessiveness or stinginess.

Anal Expulsive

A term from Freudian psychoanalysis referring to a personality type that emerges from an unorganized and lenient approach to toilet training, often resulting in a messy, careless, or defiant character.

Oedipus Complex

A conflict of the phallic stage in which the boy wishes to possess his mother sexually and perceives his father as a rival in love.