An Increase in Demand for Oil and an Increase in Supply

question 233

Multiple Choice

An increase in demand for oil and an increase in supply of oil will:

• A)decrease price and increase quantity.
• B)increase price and decrease quantity.
• C)increase quantity, but whether it increases price depends on how much each curve shifts.
• D)increase price, but whether it increases quantity depends on how much each curve shifts.

---

Definitions:

Northerners

Residents or native individuals from the northern part of a country; in the context of the United States, it often refers to citizens of states that opposed slavery during the Civil War.

Confederate Government

The administration that governed the Confederate States of America, a collection of southern states that seceded from the United States from 1861 to 1865.

Social Divisions

Distinct categories within society that are differentiated by characteristics such as class, ethnicity, or religion, often leading to inequality or conflict.

European Intervention

Actions taken by European countries to influence the political, economic, or social affairs of other nations, often outside of Europe.