69)An increase in the price of crude oil, an input into the manufacture of petrol, is likely to:
Select one:
a. decrease the demand for petrol
b. increase the quantity of petrol demanded
c. put downward pressure on the price of petrol.
d. reduce the equilibrium quantity of petrol traded
Answers
Answered by
0
Explanation:
Oil price increases are generally thought to increase inflation and reduce economic growth. In terms of inflation, oil prices directly affect the prices of goods made with petroleum products. As mentioned above, oil prices indirectly affect costs such as transportation, manufacturing, and heating.
Answered by
0
Answer: a
Explanation:
Similar questions