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For oil importing countries, the increase in oil price in 1970’s and mid 2000 contributed to which of the following :
(a) Improving terms of trade (b) Balance of trade deficits
(c) Price inflation (d) Constrained economic growth
Choose the correct answer from the codes given below :
For all importing countries, the increase in oil Prices in 1970s and mid 2000 contributed to improving terms of trade, Balance of trade deficits, Price inflation.