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In the Mid-1970s, Changes in Oil Prices Greatly Affected U

Question 149

Multiple Choice

In the mid-1970s, changes in oil prices greatly affected U.S. inflation. When oil prices rose, the U.S. would experience:


A) Cost-push inflation and rising output
B) Demand-pull inflation and rising output
C) Cost-push inflation and falling output
D) Demand-pull inflation and falling output

Correct Answer:

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