Hypothetically Speaking, If the Organization of Petroleum Exporting Countries Stopped

question 105

True/False

Hypothetically speaking, if the Organization of Petroleum Exporting Countries stopped exporting oil, a decrease in production would lead to a decrease in aggregate supply.

---

Definitions:

Tet Offensive

Surprise attack by the Viet Cong and North Vietnamese during the Vietnamese NewYear of 1968; turned American public opinion strongly against the war in Vietnam.

Viet Cong

A political organization and army in South Vietnam and Cambodia that fought the United States and South Vietnamese governments, noted for their guerrilla warfare tactics during the Vietnam War.

North Vietnamese

Refers to the people or entities associated with North Vietnam, especially during the Vietnam War era when Vietnam was divided into North and South.

Lyndon Johnson

The 36th President of the United States, who served from 1963 to 1969, known for his significant contributions to civil rights legislation and domestic programs known as the Great Society.