A Dramatic and Sustained Increase in Oil Prices Would Most

question 8

Multiple Choice

A dramatic and sustained increase in oil prices would most likely:

• A) increase demand-pull inflation.
• B) decrease demand-pull inflation.
• C) increase cost-push inflation.
• D) decrease cost-push inflation.

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Definitions:

Maslow's Needs

A hierarchy of human needs proposed by Abraham Maslow, starting from physiological needs to safety, love/belonging, esteem, and culminating in self-actualization.

Self-Actualized

Self-Actualized refers to the realization or fulfillment of one's talents and potentialities, considered as a drive inherent in everyone according to Maslow's hierarchy of needs.

Fulfilled

A state or feeling of being satisfied or completed, often in terms of achieving one's desires, goals, or potential.

Rotter's Expectancy

A theory proposed by Julian Rotter, emphasizing the role of individuals' expectations about the outcomes of their behaviors based on past experiences.