The Increase in Oil Prices in 1974 Resulting from Actions

question 224

Multiple Choice

The increase in oil prices in 1974 resulting from actions of ________ caused the short-run aggregate supply curve to shift to the left.

• A)the Bank of Canada
• B)the U.S.Federal Reserve
• C)the Department of Finance
• D)the Organization of the Petroleum Exporting Countries (OPEC)
• E)a shut down of the Canadian oil sands

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Definitions:

Challenging

Presenting difficulty in a way that tests one's abilities or determination.

Negative Light

A perspective or situation perceived unfavorably, often resulting in disapproval or criticism.

Followership

The actions, behavior, and mindset of individuals who follow and support a leader in the pursuit of achieving common goals.

Positive Facets

Characteristics or aspects of a situation, individual, or concept that are beneficial or advantageous.