Every U.S. recession over the last 5 decades has been caused by an increase in oil prices.

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“Every U.S. recession over the last 5 decades has been caused by an increase in oil prices.” True or false? Explain briefly.

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Macroeconomics Principles and Applications

ISBN: 978-1111822354

6th edition

Authors: Robert E. Hall, Marc Lieberman

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Question Posted: Jun 09, 2018 08:13 AM

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Every U.S. recession over the last 5 decades has been caused by an increase in oil prices.

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According to the following table in the text the recessions of 1974 1980 1990 and 2008 were associat...View the full answer

Macroeconomics Principles and Applications

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