The Short-Run Effect of an Oil Price Increase Is

question 125

Multiple Choice

The short-run effect of an oil price increase is

• A)an upward shift of the inflation adjustment line and a leftward shift of the aggregate demand curve as the Fed raises interest rates.
• B)an upward shift of the inflation adjustment line and a leftward shift of the aggregate demand curve as the Fed lowers the target inflation rate.
• C)an upward shift of the inflation adjustment line and a leftward shift of the aggregate demand curve as spending falls.
• D)a downward shift of the inflation adjustment line.
• E)an upward shift of the inflation adjustment line.

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Definitions:

Natural Justice

The principle of fairness in legal processes, ensuring all parties have a fair chance to present their case.

Privative Clauses

Provisions in law that limit the ability of a court to review decisions made by administrative bodies, aiming to reduce judicial interference.

Fair Hearing

A judicial or administrative procedure that ensures an individual's rights are respected by giving them a chance to present their case and to hear and respond to any evidence against them.

Administrator Decision

A ruling or determination made by an administrator or administrative body in the context of administrative law.