If There Is a Sharp Increase in Oil Prices, in the Short

question 103

Multiple Choice

If there is a sharp increase in oil prices, in the short run

• A)consumption and investment will fall.
• B)consumption will fall, investment will increase, and net exports will fall.
• C)consumption, investment, and net exports will stay constant.
• D)consumption will fall while investment and net exports will stay constant.
• E)consumption will fall, net exports will increase, and investment will stay constant.

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Definitions:

Discrete Random Variable

A variable that can take on a countable number of distinct values, often representing the outcomes of some random process.

Binomial Distribution

A probability distribution that summarizes the likelihood that a value will take one of two independent values under a given set of parameters or conditions.

Binomial Probability Distribution

A probability distribution that summarises the likelihood that a value will take one of two independent values under a given set of parameters or assumptions.

Probability Of Success

Refers to the chance that a given event will occur, often denoted in statistics by the symbol p.