Multiple Choice
In 1980 when Iraq attacked Iran, the price of oil _______ because of a(n) ______.
A) increased; disruption in the supply of oil
B) increased; decrease in the demand for oil
C) fell; increased demand for oil
D) fell; increased quantity of oil supplied
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q105: Gains from trade are maximized in a
Q106: Suppose the price of oil is falling
Q107: The September 11 terrorist attacks turned many
Q108: Imagine a free market in equilibrium. After
Q109: Following the release of a new study
Q111: If the government institutes a tax on
Q112: If the equilibrium quantity in a market
Q113: The key condition for equilibrium to occur
Q114: Economic experiments suggest that the real world
Q115: In a free market equilibrium, the gains