A One- Time Increase in Oil Prices Without Any Following

question 373

Multiple Choice

A one- time increase in oil prices without any following change in aggregate demand produces

• A) stagflation.
• B) an increase in the money wage rate that exceeds the percentage increase in the price level.
• C) a one- time fall in the price level.
• D) demand- pull inflation.

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Definitions:

X-rays

Electromagnetic waves with wavelengths shorter than those of visible light, capable of penetrating solids and ionizing gases, widely used in medicine and industry for imaging and diagnostic purposes.

Bones

Hard, dense connective tissue forming the skeleton, providing structure and protection to the body as well as assisting with movement.

Dense

Characteristic of a substance having closely packed particles or elements, indicating high mass per unit volume.

X-ray Imaging

A diagnostic technique that uses X-rays, a form of electromagnetic radiation, to create images of the inside of the body, which can be used to detect fractures, infections, and other abnormalities.