When OPEC raised the price of oil in 2000 (gasoline prices were $2 per gallon), it contributed to
a. demand-pull inflation
b. cost-push inflation
c. demand-push inflation
d. cost-pull inflation
e. cost-push deflation
B
You might also like to view...
The Securities and Exchange Commission is
A. responsible for regulating U.S. commercial banks. B. responsible for enforcing antitrust law. C. responsible for monitoring the activities of U.S. stock markets. D. responsible for monitoring currency exchanges.
Which of the following is a measure of standard of living that is not included in GDP?
a. recreation and travel b. literacy level c. medical expenses d. college tuition
The merger of two firms selling close substitutes may lead to higher prices.
Answer the following statement true (T) or false (F)
When we believe the best result will come from the decision we have made, we are being:
A. rational. B. short-sighted. C. considerate. D. gullible.