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Sveta_85 [38]
3 years ago
15

The Organization of Petroleum Exporting Countries (OPEC) controls much of the world's production of oil. If its members decide t

o lower their daily oil production, the price per barrel can rise. This can result not only in increased gasoline prices, but a general increase in prices over much of the economy because of the increased cost of transportation and production. This inflationary end result is predicted by the economic theory of __________..
History
1 answer:
Nadusha1986 [10]3 years ago
5 0
The economic theory of inflation produces an inflationary end result, where the increase of prices is due to the increased cost of transportation and production
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