Multiple Choice
In the 1970s,OPEC increased the price of crude oil significantly.This should have caused
A) a increase in the demand for gasoline.
B) an increase in the demand for automobiles with V8 engines.
C) the supply curves of firms using crude oil as an input to shift to the left.
D) the price of gasoline to fall.
E) the price of fuel efficient cars to fall.
Correct Answer:
Verified
Correct Answer:
Verified
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