By Itself, an Increase in the Price of Oil Shifts

question 332

Multiple Choice

By itself, an increase in the price of oil shifts the

• A) short-run aggregate supply curve leftward and does not shift the aggregate demand curve.
• B) short-run aggregate supply curve rightward and does not shift the aggregate demand curve.
• C) aggregate demand curve leftward and does not shift the short-run aggregate supply curve.
• D) aggregate demand curve rightward and does not shift the short-run aggregate supply curve.

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Definitions:

Evaluate

To calculate the numerical value of an expression, equation, or function when certain values are known or substituted for variables.

Simplify

To reduce a mathematical expression to its simplest form by performing operations and combining like terms.

Evaluate

The process of calculating the value of an expression.

Simplify

To simplify an expression means to reduce it to its simplest form, by performing all possible operations and combining like terms.