An Increase in Oil Prices to a Country That Is

question 94

Multiple Choice

An increase in oil prices to a country that is a net importer of oil shifts

• A)both the short-run aggregate supply and long-run aggregate supply curves rightward.
• B)both the short-run aggregate supply and long-run aggregate supply curves leftward.
• C)the short-run aggregate supply curve leftward, but leaves the long-run aggregate supply curve unchanged.
• D)the long-run aggregate supply curve rightward, but leaves the short-run aggregate supply curve unchanged.
• E)the short-run aggregate supply curve leftward, but shifts the long-run aggregate supply curve rightward.

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Definitions:

Return On Sales

A financial ratio that measures the percentage of profit made from sales after covering operating expenses.

Expectancy Theory

A motivational theory suggesting that an individual's motivation depends on their expectation of the outcome and the value they place on that outcome.

Valence

In psychology, the extent to which a person values the expected outcome of an action; in chemistry, the combining power of an element.

Expectancy

The anticipated outcome or occurrence of an event, often used in the context of probability or investment returns.