In Retaliation for U

question 122

Multiple Choice

In retaliation for U.S.support for Israel during the Arab-Israeli War, OPEC countries stopped selling oil to the United States.For the United States, this embargo caused the

• A)demand curve for oil to shift out.
• B)demand curve for oil to shift in.
• C)supply curve of oil to shift out.
• D)supply curve of oil to shift in.

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Definitions:

Fiduciary Duty

A legal obligation of one party to act in the best interest of another. The party in a fiduciary relationship is usually referred to as the fiduciary, while the other is the principal or beneficiary.

Breach

The violation or failure to comply with a legal obligation, contract, or agreement.

Restitution

Compensation or repayment for loss, damage, or injury caused to another party.

Tort

A wrongful act or infringement of a right leading to civil legal liability, not arising from a contract, but through negligence, defamation, and other such acts.