When OPEC Nearly Tripled the Price of Oil in Late

Multiple Choice

When OPEC nearly tripled the price of oil in late 1973,

A) U.S.real GDP increased as profits by oil producers increased.
B) U.S.real GDP did not change although the price level rose.
C) the U.S.price level fell because production became too expensive.
D) the U.S.price level rose and real GDP decreased.
E) both U.S.real GDP and the price level increased.