Starting from Long-Run Equilibrium,the Long-Run Impact(s)of a Sharp Drop in Oil

question 142

Multiple Choice

Starting from long-run equilibrium,the long-run impact(s) of a sharp drop in oil prices,compared to the original equilibrium,would be

• A) higher inflation.
• B) higher output.
• C) higher inflation and higher output.
• D) lower inflation and lower output.
• E) no change in inflation or output.

---

Definitions:

Cardiopulmonary Resuscitation

A life-saving technique used in emergencies when someone's breathing or heartbeat has stopped, involving chest compressions and often artificial ventilation.

Chest Compressions

A life-saving technique that involves pressing down on the chest of someone who is in cardiac arrest to improve blood flow to the body and brain.

Congestive Heart Failure

A chronic condition where the heart is unable to pump blood effectively enough to meet the body’s needs, leading to symptoms like shortness of breath and swelling.

Beta-Adrenergic Agents

Medications that stimulate beta-adrenergic receptors in the heart, lungs, and other parts of the body to treat conditions like asthma, heart failure, and hypertension.