9. Other things being equal, a reorganization of the OPEC cartel to permit it to increase oil prices
by 70 percent would most likely have which of the following effects?
A. It would shift the aggregate demand curve to the right
B. It would shift the aggregate supply curve to the right
C. It would shift the aggregate supply curve to the left
D. It would shift the aggregate demand curve right and the aggregate supply curve left
1
Expert's answer
2019-06-07T11:27:37-0400
(B) It would shift the aggregate supply curve to the right
Increase in price induces suppliers to increase quantity supplied
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