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Suppose the Organization of Petroleum Exporting Countries (OPEC) Sharply Increased

Question 39

Multiple Choice

Suppose the Organization of Petroleum Exporting Countries (OPEC) sharply increased the price of oil, which triggered higher inflation rates in the United States. This type of inflation is best classified as:


A) pseudo-inflation.
B) demand-pull inflation.
C) cost-push inflation.
D) hyperinflation.

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