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:

Macro Policy

Policies designed to influence or regulate large-scale societal systems, such as economic or social policies at a national or international level.

Homelessness

The condition of lacking stable, permanent, and adequate housing.

Health Care

A system involving the diagnosis, treatment, and prevention of disease, illness, injury, and other physical and mental impairments in humans.

Employment

The condition of having paid work or the process of hiring someone for a job.