Whats the best way to think about the rise in oil prices in the last 10 years,

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What’s the best way to think about the rise in oil prices in the last 10 years, as China and India have become richer: Was it a rise in demand, a fall in demand, a rise in supply, or a fall in supply?

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Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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Question Posted: Nov 24, 2015 08:28 AM

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Whats the best way to think about the rise in oil prices in the last 10 years,

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A rise in demand The price spiked up but more oil ha...View the full answer

Modern Principles of Economics

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