Recall Application 3, "How the U

question 119

Multiple Choice

Recall Application 3, "How the U.S. Economy has Coped with Oil Price Fluctuations," to answer the following questions:
-According to the application, when the price of oil increases, the aggregate supply curve shifts up because:

• A) oil is a by- product of the production processes in the economy.
• B) oil is a complement to the production of most goods and services.
• C) oil is an input to the production processes in the economy.
• D) oil is a major source of export revenues in the economy.

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Definitions:

Pebbles

Small, smooth, rounded stones that are often found on beaches and at the bottoms of rivers.

Ground Line

In paintings and reliefs, a painted or carved baseline on which figures appear to stand.

Engraved Line

A technique in printmaking and drawing where lines are incised onto a surface with a sharp tool, often used for detail and texture.

Megalithic Architecture

Structures made of large stones without the use of mortar or concrete, famous examples include Stonehenge and various dolmens, menhirs, and cromlechs across Europe.