The Price of a Barrel of Oil Doubled Between 2007

question 61

Multiple Choice

The price of a barrel of oil doubled between 2007 and the middle of 2008. To make matters worse,a financial crisis hit the U.S. economy starting in August of 2007. Which of the following is an appropriate description of the mechanism that would have ensued?

• A)The increase in the price of oil would have immediately shifted the AS curve to the right.
• B)The financial crisis would have led to a sharp contraction in spending shifting the AD curve to the right.
• C)Shifts in both the AD and the AS curve would have ensued in the short-run but as long as neither shock had an impact on potential output,ultimately unemployment will have been unaffected in the long run.
• D)All of the above.
• E)None of the above.

Understand the flows (product, information, and funds) in the interaction between customers and retailers.

Understand the organizational structure and functional significance of different endocrine organs.

Identify various endocrine glands and associated hormones on diagrams or micrographs.

Recognize the significance of hormonal and neural control in regulating endocrine organs' activities.

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Definitions:

Anna Freud

Anna Freud was an Austrian-British psychoanalyst known for founding child psychoanalysis and for her work on defense mechanisms.

Behavioral Perspective

A psychological approach that focuses on observable behaviors and the ways they're learned through interactions with the environment.

Reinforcements

In psychology, any event that strengthens or increases the behavior it follows.

Consequences

The results or effects of actions, which can influence future behavior, particularly in the realm of psychology and behaviorism.