In $1973,1979$ and $2007$ we saw very dramatic increases in the price of oil. As a result, in $1973$ and $1979$ we saw double digit inflation, but, in $2007$ we saw a much lower rate of inflation. Why did this happen?

A$.$ The effects of Reaganomics were being felt in the $1970\text{'}$s

B$.$ The Fed had much more credibility in $2007$ than it had in $1973$ and $1979.$

C$.$ The difference was caused by the response to the implementation of Glass$-$Steagall.

D$.$ In $1973$ and $1979$ the Fed had much more credibility than it did in $2007.$