By itself, an increase in the price of oil shifts the
A) aggregate supply curve rightward and does not shift the aggregate demand curve.
B) aggregate demand curve rightward and does not shift the aggregate supply curve.
C) aggregate demand curve rightward and shifts the potential GDP line rightward.
D) aggregate supply curve leftward and does not shift the aggregate demand curve.
E) aggregate demand curve leftward and does not shift the aggregate supply curve.
D
You might also like to view...
A depreciation of the U.S. dollar will result in an increase in aggregate expenditures in the country
a. True b. False Indicate whether the statement is true or false
If a surplus exists in a market, then we know that the actual price is
a. above the equilibrium price, and quantity supplied is greater than quantity demanded. b. above the equilibrium price, and quantity demanded is greater than quantity supplied. c. below the equilibrium price, and quantity demanded is greater than quantity supplied. d. below the equilibrium price, and quantity supplied is greater than quantity demanded.