An Increase in the Price of Oil Will

question 25

Multiple Choice

An increase in the price of oil will

• A) shift the supply curve of oil to the left.
• B) shift the supply curve of oil to the right.
• C) leave the supply curve of oil unchanged.
• D) Not enough information to answer the question.

---

Definitions:

External Migration

The process of moving outside one's country or region of origin to live in another country or region.

Power

The ability of individuals or groups to impose their will upon others and make them do things even against their own wants or wishes.

Military Spending

refers to a government's expenditure on its defense forces and activities, encompassing all aspects from salaries to procurement of weapons and maintenance of facilities.

Global Leaders

Individuals or entities that exert significant influence or authority over international affairs, policies, and initiatives, driving global trends and directions.