Suppose there is a positive oil shock (oil prices increase).
What policy the central bank should take?
A. Increase the nominal interest rate.
B. Create an economic expansion (boom).
C. Decrease the nominal interest rate.
D. Decrease the real interest rate.An oil price shock. Question!?
Apples and oranges.
It doesn't matter what the banks do. We need to drill. We should've drilled decades ago. The drilling problems were started by and are still prevented by the environmentalist wackos
What do you think?
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