Since 1950, the price of crude oil, corrected for inflation, has
A) gone steadily upward.
B) generally declined, with brief price spikes upward in 1973 and 1987.
C) showed one peak in the early 1980s and another substantial rise after 2000, but otherwise showed little trend.
D) changed very little, in real terms.

Question

Quizplus · Accepted Answer

The price of crude oil, corrected for inflation, showed one peak in the early 1980s and another substantial rise after 2000, but otherwise showed little trend. There were brief price spikes upward in 1973 and 1987, but overall, the trend has been relatively flat since 1950.

Since 1950, the Price of Crude Oil, Corrected for Inflation