Multiple Choice
How will an increase in the world price of crude oil influence the economy of an oil-importing country such as the United States?
A) Aggregate supply will decrease, leading to a decrease in real GDP.
B) Aggregate supply will increase, leading to an increase in real GDP.
C) Aggregate supply will increase, leading to an increase in prices and smaller GDP.
D) A change in the price of an imported good will not affect the domestic economy of an oil-importing country.
Correct Answer:
Verified
Correct Answer:
Verified
Q123: Use the figure below to answer the
Q124: Which of the following will most likely
Q125: If the long-run equilibrium of an economy
Q126: During an economic expansion, housing and stock
Q127: Which will cause a larger short-run increase
Q129: The situation in which actual output exceeds
Q130: Which of the following would be most
Q131: How does the self-correcting mechanism act to
Q132: Suppose we observe an economy experiencing an
Q133: Which of the following, other things the