30. After COVID lockdowns were declared globally in 2020, the price of oil crashed from $64 per barrel in January to $18 per barrel in April. What is the most likely reason that lockdowns contributed to the oil price crash? (A) Supply increased due to oil companies reallocating resources to help with the COVID-19 pandemic. (B) Supply decreased due to oil workers being furloughed. (C) Demand increased from factories producing Personal Protective Equipment for essential workers. (D) Demand decreased since fewer people were commuting to work. 31. Suppose that St. Catharines has a CPI of 85 and Brampton has a CPI of 100. Which of the following sets of salaries provides the same purchasing power in both cities? (A) $100,000 in St. Catharines and $115,000 in Brampton. (B) $127,500 in St. Catharines and $150,000 in Brampton. (C) $42,500 in St. Catharines and $55,000 in Brampton. (D) $201,500 in St. Catharines and $216,000 in Brampton. 32. Which of the following statements is TRUE? (A) Official inflation data are often reliable. (B) It is truly wonderful to simp! It's a vibe. (C) The CPI includes producer goods. (D) The GDP deflator can be used to measure inflation. 33. Which of the following is included in GDP? (A) The sale of stocks and bonds. (B) The price of services, such as visits to the naturopath. (C) The sale of used books. (D) Purchasing a house from an existing homeowner