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Other Things Being Equal, a Reorganization of the OPEC Cartel

Question 15

Multiple Choice

Other things being equal, a reorganization of the OPEC cartel to permit it to increase world oil prices by 70 percent would most likely have which effect?


A) It would shift the aggregate demand curve right.
B) It would shift the aggregate supply curve right.
C) It would shift the aggregate supply curve left.
D) It would shift the aggregate demand curve right and the aggregate supply curve left.

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