In the 1970s, the World Price of Oil Was Driven

question 52

Multiple Choice

In the 1970s, the world price of oil was driven upward due to ____, while in the mid-2000s, the price of oil was driven upward primarily due to ____.

• A) increase in demand; decrease in supply
• B) increase in demand; increase in supply
• C) decrease in demand; decrease in supply
• D) decrease in supply; increase in demand
• E) decrease in supply; decrease in demand

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Definitions:

Thomas Jefferson

The third President of the United States (1801–1809), a Founding Father, and the principal author of the Declaration of Independence.

Election of 1800

A pivotal presidential election in the United States that resulted in Thomas Jefferson defeating incumbent John Adams, noted for its intense political rivalry and the peaceful transition of power.

Jacobins

A radical and influential political club during the French Revolution known for promoting republican ideals and for their role in the Reign of Terror.

Bill of Rights

The first ten amendments to the United States Constitution that guarantee certain fundamental rights and protections to American citizens, including freedom of speech, religion, and the press.