Real business cycle theory best in this regard.
Explanation:
Among the other options, option first explains and put pressure on the role of technology in causing economic fluctuations. The new price or change in price affects the total cost of the product and so on the supply and demand. Because almost all firms use oil in one form or another, oil price changes function like technology changes.
The increase in aggregate cost decreases the productivity of the firms. The demand went down which affected the circulation of money in the market and leads to the recession.
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Before the United States joined World War II in response to the Japanese attack on Pearl Harbor, the great battle had been raging in Europe since 1939. While the British and Russians struggled against the German Reich, the United States remained officially neutral and refused to enter the war.
