The Oil Price Explanation of the Slowdown in Economic Growth

question 58

Multiple Choice

The oil price explanation of the slowdown in economic growth after 1973 is inconsistent with which of the following facts?

• A)Prices of used capital goods that were dependent on oil did not drop sharply when oil prices increased.
• B)The productivity slowdown began just as oil prices were quadrupled in 1973.
• C)The productivity slowdown occurred in all industrial countries.
• D)Industry-by-industry analysis of the impact on oil prices bears out the damage done by the oil price increases.

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Caloric Reduction

A nutritional strategy that involves decreasing daily calorie intake without depriving the body of essential nutrients.

Sensory-Acute

Highly sensitive or sharply responsive to sensory stimuli.

Age-Related

Refers to aspects or changes that naturally occur as part of the aging process.