An Increase in the Price of Oil ________ Aggregate Supply,shifting

question 133

Multiple Choice

An increase in the price of oil ________ aggregate supply,shifting the aggregate supply curve ________ and potentially bringing the ________ phase of the business cycle.

• A)decreases;rightward;expansion
• B)increases;rightward;recession
• C)increases;rightward;expansion
• D)decreases;leftward;recession
• E)decreases;rightward;recession

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Definitions:

Quasi In Rem

A legal term referring to a court's jurisdiction over an individual's property to resolve a dispute, not directly against the person.

Excess Proceeds

The amount of money that remains after all debts, liabilities, and costs have been paid off in a transaction, often associated with auctions or foreclosures.

Neonates

Newborn babies, especially within the first month after birth.

Calming Effect

The process of inducing a state of relaxation and reduced stress in an individual.