The Rapid Rise in Oil Prices During 2007-2008 Can Be

Multiple Choice

The rapid rise in oil prices during 2007-2008 can be explained by noting the fact that

A) the supply of oil increased more rapidly than the demand for oil increased
B) the demand for oil increased more rapidly than the supply for oil increased
C) the demand for oil decreased at the same time that the supply of oil increased
D) the quantity demanded of oil increased more rapidly than the quantity supplied of oil increased
E) the quantity supplied of oil increased more rapidly than the quantity demanded of oil increased