Which Choice Explains How the OPEC Crisis of 1973 Affected

question 63

Multiple Choice

Which choice explains how the OPEC crisis of 1973 affected oil prices?

• A) The supply of oil was reduced, leading to a rise in oil prices.
• B) The supply of oil was increased, leading to a fall in oil prices.
• C) The demand for oil increased, leading to a rise in oil prices.
• D) The demand for oil decreased, leading to a fall in oil prices.

---

Definitions:

Home Page

The main screen or dashboard of software or a website, providing access to various sections and tools.

Enter Bills Window

In accounting software, a specific feature or interface where bills or invoices received from vendors are entered.

Journal Entry

A record of a financial transaction within the double-entry bookkeeping system, containing debits and credits.

Debits Expense

An accounting entry that represents an increase in expenses, which in turn reduces equity or net income.