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Country X Is the Largest Producer and Exporter of Oil

Question 77

Multiple Choice

Country X is the largest producer and exporter of oil in the world.Which of the following is likely to happen if the world demand for oil increases?


A) Country X's labor supply curve will shift to the left.
B) Country X's labor demand curve will shift to the right.
C) Consumption expenditure in Country X will fall.
D) Asset prices in Country X will fall.

Correct Answer:

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