Multiple Choice
Suppose OPEC unexpectedly collapses, which leads to a fall in the price of oil.As a result, the price level
A) rises, and real GDP increases.
B) rises, and real GDP decreases.
C) falls, and real GDP decreases.
D) rises, and real GDP remains the same.
E) falls, and real GDP increases.
Correct Answer:

Verified
Correct Answer:
Verified
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