OPEC's Oil Embargo of Canada in the 1970s Was an Example

question 28

Multiple Choice

OPEC's oil embargo of Canada in the 1970s was an example of

• A)a demand shock that increased price levels.
• B)a demand shock that decreased price levels.
• C)a supply shock that increased price levels.
• D)a supply shock that decreased price levels.

---

Definitions:

Net Worth

The total value of all assets a company or individual owns, minus any liabilities owed, indicating financial strength or wealth.

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term liquidity and operational efficiency.

Executive Pay

Compensation that includes salaries, bonuses, stocks, and other financial benefits provided to top-level management and executives.

Expense Account

An account used to track expenditures made by employees for business operations that are later reimbursed by the employer.