A temporary decrease in the price of oil would be considered a:

A. long-run supply shock.
B. demand shock.
C. short-run supply shock.
D. The changing price of oil would not affect any of these.


Answer: C

Economics

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Define the three key principles of economics

What will be an ideal response?

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A professor will sometimes pay higher prices for some goods compared to an undergraduate student because

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The equilibrium hedonic wage function is most likely

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Economics