During the 1970s, the Organization of Petroleum Exporting Countries (OPEC)

question 66

Multiple Choice

During the 1970s, the Organization of Petroleum Exporting Countries (OPEC) sharply increased the price of oil which triggered higher inflation rates in Australia. This type of inflation is best classified as:

• A) pseudo-inflation.
• B) demand-pull inflation.
• C) cost-push inflation.
• D) hyperinflation.

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Definitions:

Mutual Exclusivity Assumption

The cognitive bias in language acquisition where children assume that objects only have one name and that different names refer to different objects.

Cones

In the eye, cone-shaped receptors of light that transmit sensations of color.

Zone Of Proximal Development

A concept developed by psychologist Lev Vygotsky, referring to the difference between what a learner can do without help and what they can achieve with guidance and encouragement from a skilled partner.

Pretend Play

A form of play in which children use their imagination to recreate and act out roles, scenarios, and activities.