Multiple Choice
What was the result of increased oil prices during the 1970s?
A) Aggregate demand decreased,causing cost-push inflation.
B) Aggregate demand increased,causing demand-pull inflation.
C) Aggregate supply increased,causing demand-pull inflation.
D) Aggregate supply increased,causing cost-push inflation.
E) Aggregate supply decreased,causing cost-push inflation.
Correct Answer:
Verified
Correct Answer:
Verified
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