Multiple Choice
The inflation associated with the oil price shocks in the 1970s after OPEC restricted the supply of oil is an example of
A) cost-push inflation due to a supply shock.
B) cost-push inflation due to a demand shock.
C) demand-pull inflation due to a demand shock.
D) demand-pull inflation due to a supply shock.
Correct Answer:
Verified
Correct Answer:
Verified
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