Suppose that the price of oil continues to decline

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Suppose that the price of oil (and gasoline) continues to decline. According to our discussion, what impact will this have on the economies of the U.S. states?

a. The economy of each state in the U.S. will improve as oil prices decline

b. The economy of each state in the U.S. will decline as oil prices decline

c. The economies of some states will improve, while the economies of certain states will decline as oil prices decline

d. The price of oil does not impact state economies in any significant way

Reference no: EM13998791

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