Many Economists Have Argued That Oil Prices Have a Big

question 33

Essay

Many economists have argued that oil prices have a big impact on the performance of the economy. Since 2004, oil prices world wide rose dramatically. Explain the effects of this rise in oil prices in the aggregate demand- aggregate supply model.

---

Definitions:

Unconscious Conflict

A term used in psychoanalysis to describe a struggle or clash between opposing wishes or desires that exist outside of conscious awareness.

Well-Being

A comprehensive term for the condition of an individual or group, encompassing physical, mental, and emotional health and happiness.

Individualist Cultures

Societies that prioritize the needs and goals of the individual over the group.

Psychological Triad

The combination of thoughts, feelings, and behaviors that make up an individual's psychological traits.