Following the Sharp Increases in Oil Prices in the United

question 108

Multiple Choice

Following the sharp increases in oil prices in the United States caused by the OPEC oil embargo of 1973-1974, U.S.automakers started building smaller, more fuel-efficient cars.This development caused the

• A)demand curve for oil to shift out.
• B)demand curve for oil to shift in.
• C)supply curve of oil to shift out.
• D)supply curve of oil to shift in.

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Definitions:

Soviet Union

A former federation of communist republics in Eastern Europe and Northern Asia, existing from 1922 until 1991, officially known as the Union of Soviet Socialist Republics (USSR).

Afghan Mujahideen

Islamic guerrilla fighters who waged a jihad against the Soviet Union's occupation of Afghanistan from 1979 to 1989, later involved in civil conflicts within Afghanistan.

Procommunist Government

A government that supports or is aligned with communist principles, often advocating for communal ownership and the redistribution of resources.

Mariel Boat Lift

A mass emigration of Cubans to the United States in 1980, originating from the Mariel Harbor; it raised immigration and asylum issues between the two countries.