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In the Mid-1970s the Price of Oil Rose Dramatically

Question 27

Multiple Choice

In the mid-1970s the price of oil rose dramatically.This


A) shifted aggregate supply left,the price level rose,and real GDP fell.
B) caused U.S.prices to fall,and real GDP rose.
C) caused an increase in U.S.prices and real GDP.
D) caused a decrease in U.S.prices and real GDP.

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