Multiple Choice
After the first oil shock in 1973, the U.S. auto industry had a difficult time adjusting because:
A) demand for large automobiles was very high.
B) the price of oil was too low.
C) much of the physical capital in an auto factory is specialized.
D) none of the physical capital in an auto factory is specialized.
Correct Answer:
Verified
Correct Answer:
Verified
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