Multiple Choice
In the mid-1970s the price of oil rose dramatically. What did this event cause?
A) It shifted aggregate supply left.
B) It caused Canadian prices to fall.
C) The aggregate demand increased because of an increase in the demand for gasoline.
D) Nominal GDP increased.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: How does Canadian aggregate demand change if
Q93: Figure 14-1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt="Figure 14-1
Q230: When taxes increase, consumption decreases. How is
Q232: Why does a decrease in the price
Q233: Which of the following is included in
Q234: Scenario 14-2. The economy is in long-run
Q236: According to classical economic theory, which of
Q238: Which of the following shifts the short-run
Q239: In a recession, compared to the percentage
Q240: Suppose there was an economic contraction caused