A Reduction the Amount of Oil (A Resource) Will Tend

Multiple Choice

A reduction the amount of oil (a resource) will tend to cause which of the following?

A) a reduction in output and a reduction in the price level
B) a reduction in output with no change in the price level
C) a reduction in output and an increase in the price level
D) an increase in the price level and no change in output if accompanied by an increase in the money supply