A Reduction the Amount of Oil (A Resource) Will Tend

question 193

Multiple Choice

A reduction the amount of oil (a resource) will tend to cause which of the following?

• A) a reduction in output and a reduction in the price level
• B) a reduction in output with no change in the price level
• C) a reduction in output and an increase in the price level
• D) an increase in the price level and no change in output if accompanied by an increase in the money supply

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Definitions:

Encoding

The process by which information is converted into a form that allows it to be stored in our memory.

Method of Loci

A mnemonic technique using visualization of familiar spatial environments to enhance the recall of information.

Memorize a Speech

The process of committing a speech or spoken material to memory, often through repetition and practice, for recitation without reference to notes.

Visualizes a Walk

The mental process of creating a visual image of walking through a location or path, often used in memory techniques.