Multiple Choice
Recall Application 3, "How the U.S. Economy has Coped with Oil Price Fluctuations," to answer the following questions:
-According to the application, an increase in the price of oil is similar in effect on consumer incomes as compared to a:
A) higher tax.
B) higher subsidy.
C) higher interest rate.
D) higher wage.
Correct Answer:
Verified
Correct Answer:
Verified
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