In the Short Run,a Reduction in the Price of Oil

question 32

Multiple Choice

In the short run,a reduction in the price of oil will cause

• A)a reduction in output.
• B)an increase in the price level.
• C)a reduction in the interest rate.
• D)all of the above
• E) none of the above

---

Definitions:

Narcotic Medication

Drugs that relieve pain, induce sleep, and can alter mood or behaviour, often with the potential for addiction and abuse.

Rectal Thermometer

A device used to measure body temperature via the rectum, providing a highly accurate reading.

Tympanic Membrane

A thin, cone-shaped membrane that separates the external ear from the middle ear, also known as the eardrum.

Ear Pinna

The outer part of the ear that captures sound waves and channels them into the ear canal.