An Increase in the Price of Oil Should

question 120

Multiple Choice

An increase in the price of oil should:

• A)Shift the dynamic aggregate demand curve to the right
• B)Reduce the level of potential output
• C)Shift the short-run aggregate supply curve upward
• D)Create a temporary expansionary gap

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Definitions:

Internal Locus

The belief that one's actions are primarily controlled by personal decisions and efforts rather than external factors.

Type A Personality

A temperament characterized by excessive ambition, aggression, competitiveness, drive, impatience, need for control, focus on quantity over quality and unrealistic sense of urgency.

Uncontrollable Aversive Events

Situations or events that are unpleasant or harmful and cannot be controlled or avoided by the individual, often leading to feelings of helplessness.

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed, which is believed to contribute to negative attitudes and behaviors.