Which of the Following Was a Result of Increased Oil

question 21

Multiple Choice

Which of the following was a result of increased oil prices during the 1970s?  

• A) Aggregate demand increased, causing demand-pull inflation. 
• B) Aggregate demand decreased, causing cost-push inflation. 
• C) Aggregate supply increased, causing cost-push inflation. 
• D) Aggregate supply decreased, causing cost-push inflation.

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Definitions:

Traumatic Experience

An event that causes psychological distress and can lead to long-term mental health issues like PTSD.

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Experts who study how individuals think, influence, and relate to one another within the context of society.

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Automatic System

Part of the cognitive system that processes information effortlessly, quickly, and without conscious thought.