In the Mid-1970s, Changes in Oil Prices Greatly Affected U

question 149

Multiple Choice

In the mid-1970s, changes in oil prices greatly affected U.S. inflation. When oil prices rose, the U.S. would experience:

• A) Cost-push inflation and rising output
• B) Demand-pull inflation and rising output
• C) Cost-push inflation and falling output
• D) Demand-pull inflation and falling output

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Definitions:

Americans

Citizens or nationals of the United States of America, a country comprising 50 states and various territories.

1920s

The decade spanning from 1920 to 1929, characterized by significant social, economic, and cultural changes following World War I.

Punishment

A stimulus or event that decreases the likelihood of the behavior that it follows occurring again in the future.

Negative Reinforcers

Stimuli whose removal following a behavior increases the likelihood of that behavior being repeated in the future.