How Has the Price of Oil Generally Been Related to Recessions

question 89

Multiple Choice

How has the price of oil generally been related to recessions in the United States?

• A) Falling oil prices have produced a recession either in the next quarter or at the same time as the price fall.
• B) Rising oil prices for at least two years have produced a recession.
• C) If oil prices rise and fall within a year there will be a recession.
• D) Rising oil prices have produced a recession either concurrently or quickly thereafter.

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Definitions:

Subconscious

The part of the mind that is not currently in focal awareness but can influence thoughts and behaviors.

Formal Reasoning

The process of following a set of rigorous procedures for reaching logical conclusions.

Dialectical Reasoning

A method of argument for resolving disagreement that involves the exchange of arguments and counter-arguments, aiming to find the truth through reasoned discussion.

Heuristics

Mental shortcuts or rules of thumb that simplify decision making, often leading to a solution but not always the optimal one.