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Why Have Oil Shocks Become Less Economically Important for the United

Question 62

Multiple Choice

Why have oil shocks become less economically important for the United States in recent years?


A) American producers are now more energy efficient.
B) Negative oil shocks have been tempered by positive productivity shocks, such as improvements in technology.
C) The Federal Reserve has become better at responding to oil shocks.
D) Each of these answers is correct.

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