Question

price of oil per barrel, 1976 - 1983, in 2008 dollars

according to the graph, which best states how the price of oil per barrel changed between 1976 and 1981?

• the price increased slightly.
• the price more than doubled.
• the price more than tripled.
• the price decreased slightly.

Explanation:

1. From the graph, oil price in 1976 is ~$28 per barrel.
2. In 1981, the price peaks at ~$60 per barrel.
3. Calculate the ratio: $\frac{60}{28} \approx 2.14$, which is more than double, and less than triple. This matches the second option.

Answer:

The price more than doubled.