Which of the Following Represents the Short- Run Effects of an Increase

question 58

Multiple Choice

Which of the following represents the short- run effects of an increase in the price of oil?

• A) An increase in the interest rate.
• B) A decrease in output.
• C) An increase in the price level.
• D) An increase in unemployment.
• E) All of the above.

---

Definitions:

Critic

An individual who expresses judgments or opinions on the merits and faults of artistic, literary, or musical works, or the actions or decisions of individuals or organizations.

Ethical Dilemmas

Situations where individuals must choose between actions that are often seen as morally right or morally wrong, leading to a conflict of ethical principles.

Guide Government Action

Principles, frameworks, or policies that direct or influence the decisions and activities of a government.

Better Society

An ideal or aspirational vision of a community that offers improved conditions and opportunities for its members.