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An increase in the price of oil by The Organization of the Petroleum Exporting Countries (OPEC) is likely to: a. shift the aggregate supply curve

An increase in the price of oil by The Organization of the Petroleum Exporting Countries (OPEC) is likely to:

a. shift the aggregate supply curve rightward and cause cost-push inflation.

b. shift the aggregate demand curve rightward and cause cost-push inflation.

c. shift the aggregate supply curve leftward and cause cost-push inflation.

d. shift the aggregate demand curve leftward and cause cost-push inflation.

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