Answered

The Organization of Petroleum Exporting Countries (OPEC) controls much of the world's production of oil. If its members decide to lower their daily oil production, the price per barrel can rise. This can result not only in increased gasoline prices, but a general increase in prices over much of the economy because of the increased cost of transportation and production. This inflationary end result is predicted by the economic theory of __________..



Answer :

The economic theory of inflation produces an inflationary end result, where the increase of prices is due to the increased cost of transportation and production