During the 1970s,some countries stopped oil sales to the United States.As petroleum prices rose:

Question

Quizplus · Accepted Answer

When some countries stopped oil sales to the United States, aggregate supply fell since the U.S. relied heavily on imported oil. As a result, the cost of producing goods and services increased, leading to a rise in the aggregate price level. The increase in oil prices also reduced consumers' purchasing power, leading to a decline in aggregate demand. Therefore, option C is the best choice.

During the 1970s,some Countries Stopped Oil Sales to the United