Which of the Following Changes Best Represents the Effect on the U.S.of

question 28

Multiple Choice

Which of the following changes best represents the effect on the U.S.of the oil embargo (a shut-off of oil from certain OPEC countries) of the 1970s?

• A)a leftward shift of the aggregate supply curve
• B)a rightward shift of the aggregate supply curve
• C)a leftward shift of the aggregate demand curve and the aggregate supply curve
• D)a rightward shift of both the aggregate demand curve and the aggregate supply curve
• E)a change in the aggregate supply curve from a line with an upward slope to a vertical line

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Definitions:

Innate Potential

A term referring to the natural capabilities and talents that individuals are born with, which can be developed through experiences and education.

Societal Goals

Objectives or aims that are deemed important or beneficial for the society as a whole.

Higher Levels of Intelligence

A state of advanced cognitive ability that includes superior problem-solving skills, faster learning, and the ability to understand complex concepts more easily.

Industriousness

A trait characterized by a persistent and hardworking approach to tasks and goals, often leading to success in endeavors.