Which of the following changes best represents the effect on the U.S.of the oil embargo (a shut-off of oil from certain OPEC countries) of the 1970s?
A) a leftward shift of the aggregate supply curve
B) a rightward shift of the aggregate supply curve
C) a leftward shift of the aggregate demand curve and the aggregate supply curve
D) a rightward shift of both the aggregate demand curve and the aggregate supply curve
E) a change in the aggregate supply curve from a line with an upward slope to a vertical line
Correct Answer:
Verified
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A)economic
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