Suppose the economy is initially at point A in the diagram below, and oil prices suddenly fall. Which point best depicts where the economy will end up in the short run? 
Definitions:
Economic Growth
An increase in the amount of goods and services produced per head of the population over a period of time.
Modernization Theory
A theory that posits that societies progress through stages of economic development, from traditional to modern industrial economies, with corresponding social and cultural changes.
Core Capitalist Countries
Denotes nations that are at the forefront of the global economic system, characterized by strong, developed economies and significant influence over world trade and financial markets.
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