When Asian countries went into a recession in 1997, the demand for oil _______ and the price of oil ________.
A) increased; increased
B) decreased; increased
C) decreased; decreased
D) increased; decreased

Question

Quizplus · Accepted Answer

During a recession, economic activity slows down, leading to a decrease in demand for commodities like oil. Consequently, the price of oil also tends to decrease due to lower demand.

When Asian Countries Went into a Recession in 1997, the Demand