For the Economy of Ontario,which Is a Major Oil User

question 45

Multiple Choice

For the economy of Ontario,which is a major oil user and importer,an increase in the world price of oil would be considered

• A)monetary validation.
• B)a negative demand shock.
• C)demand inflation.
• D)a negative supply shock.
• E)an adjustment process.

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Definitions:

Obedience

Behaving in accordance with the rules and commands of those in authority.

Halo Effect

A cognitive bias where the perception of a particular trait is influenced by the perception of former traits in a sequence of interpretations.

Reciprocal Liking

The phenomena where people tend to like others who like them in return.

Primacy Effect

The cognitive phenomenon where individuals are more likely to remember and give more weight to information that is presented first in a series.