Rising average prices and increased unemployment could be caused by increases in the price of oil.

Question

Quizplus · Accepted Answer

When the price of oil increases, it leads to an increase in production costs for many industries, which causes a rise in prices of goods and services. This rise in prices can lead to inflation, which can cause unemployment due to decreased demand for goods and services. Therefore, rising average prices and increased unemployment could be caused by increases in the price of oil.

Rising Average Prices and Increased Unemployment Could Be Caused by Increases