The Macroeconomic Effect of an Oil Shock Is to Shift

question 29

Multiple Choice

The macroeconomic effect of an oil shock is to shift the _____ curve to the _____.

• A) AD, right
• B) AD, left
• C) SRAS, right
• D) SRAS, left
• E) none of the above

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Definitions:

Pressure/Force Sensing

The process of measuring the pressure or force applied to a surface or point, often used in industrial and automotive applications.

Hysteresis

A phenomenon where the response of a system to changes in input is dependent on its current state or previous inputs, often to prevent rapid oscillation.

Through-beam Sensor

A type of photoelectric sensor where the emitter and receiver are positioned opposite each other, detecting objects when the beam is interrupted.