In 1973 , 1979, and 2007 we saw a very dramatic increase in the price of oil.

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In 1973 , 1979, and 2007 we saw a very dramatic increase 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?

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Microeconomics An Intuitive Approach with Calculus

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Authors: Thomas Nechyba

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Posted Date: Mar 20, 2024 11:33 PM

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In 1973 , 1979, and 2007 we saw a very dramatic increase in the price of oil.

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There were significant oil price spikes in 1973 1979 and 2007 but the inflation outcomes differed He... View the full answer

Microeconomics An Intuitive Approach with Calculus

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