If oil prices increase, then in the short run, real GDP will ___________and the price level will___________
A) decrease; rise
B) increase; rise
C) decrease; fall
D) increase; fall
Correct Answer:
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Q63: Suppose that the money prices of raw
Q64: Cost-push inflation can start with
A) higher money
Q65: By itself, a fall in the price
Q66: If the prices of crucial raw materials
Q67: An increase in the price of a
Q69: A higher price for oil shifts the
A)
Q70: Cost-push inflation starts with
A) an increase in
Q71: Cost-push inflation might initially result from
A) an
Q72: When a cost-push inflation starts
A) real GDP
Q73: The SAS curve shifts leftward if
A) the
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