1. If a major disruption of worldwide oil supplies occurred, resulting in 25- to 40-percent higher oil prices, how would it impact the SRAS curve? (A) The oil crisis would be offset by decreased wages and the SRAS curve would remain stable. (B) Prices on the SRAS curve would drop due to lack of consumer demand. (C) The SRAS curve would reflect the cost change by shifting to the left. (D) Real GDP on the SRAS curve would be unaffected because goods would still be needed. (E) The SRAS curve would shift to the right due to increased aggregate prices.