When OPEC Caused the Price of Oil to Rise in the Early

question 11

Multiple Choice

When OPEC caused the price of oil to rise in the early 1970s, the:

• A) aggregate supply curve shifted to the right.
• B) aggregate supply curve shifted to the left.
• C) aggregate demand curve shifted to the right.
• D) aggregate demand curve shifted to the left.

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Definitions:

Visible Wavelengths

The range of electromagnetic radiation wavelengths that are visible to the human eye, approximately between 380 and 740 nanometers.

Sensation

The initial process of detecting and encoding environmental energy (e.g., light, sound) through the sensory organs.

Blue

A color, part of the visual spectrum, that is perceived when light has a dominant wavelength of roughly 450 to 495 nanometers.

Green

Often associated with the color representing nature, growth, renewal, and environmental sustainability.