A Temporary Decrease in the Price of Oil Would Be

question 6

Multiple Choice

A temporary decrease in the price of oil would be considered a:

• A) short-run supply shock.
• B) long-run supply shock.
• C) demand shock.
• D) The changing price of oil would not affect any of these.

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Definitions:

Controversial

Pertaining to topics, issues, or opinions that provoke public disagreement or debate due to differing views and beliefs.

Precision

The degree to which repeated measurements under unchanged conditions show the same results.

Conditioned Stimulus

A stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.

Hospital

A health care institution providing patient treatment with specialized medical and nursing staff and medical equipment.