For the economy of Ontario, which is a major oil user and importer, an increase in the world price of oil would be considered

Question

Quizplus · Accepted Answer

An increase in the world price of oil would be considered a negative supply shock for Ontario's economy, as it would result in increased costs of production for businesses that rely on oil as an input. This could lead to higher prices for consumers and reduced economic activity.

For the Economy of Ontario, Which Is a Major Oil