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Which of the following will reduce consumer expenditures?
Oil Price
The cost per barrel of crude oil as determined by global markets.
Favorable Supply Shock
An unexpected event that increases the supply of a product or service, leading to a lower equilibrium price and/or an increase in the equilibrium quantity.
Inflation
The pace at which prices for goods and services generally ascend, causing buying power to decline.
Stagflation
A period of falling output and rising prices.
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