If the Price of Oil Rises, the

Multiple Choice

If the price of oil rises, the

A) AD curve and the AS curve shift rightward, the price level rises, and real GDP decreases.
B) AS curve shifts leftward, the price level rises, and real GDP decreases.
C) AS curve shifts leftward, the price level rises, and real GDP increases.
D) AD curve and the AS curve shift leftward, real GDP decreases, and the price level rises.
E) AD curve shifts rightward, real GDP increases, and the price level rises.