U.S. recessions in 1974 to 1975, 1980 to 1982, 1990 to 1991, 2001, and 2007 to 2009 were each preceded or accompanied by a rise in oil prices, a key input cost. What combination of effects did this leftward SRAS shift produce, and what nickname is given to this pattern?

1. A rise in oil prices raises costs broadly across the economy, shifting SRAS to the left. 2. A leftward SRAS shift reduces real GDP, moving the economy further from potential GDP and raising unemployment. 3. At the same time, the leftward SRAS shift raises the equilibrium price level, which is inflationary. 4. Lower output and higher inflation happening together is the pattern nicknamed stagflation. 5. Options A, B, and D all mismatch at least one of the three effects, or invent the wrong nickname. _Source: OpenStax Principles of Macroeconomics for AP Courses (CC BY 4.0), Ch 10 "The Aggregate Demand/Aggregate Supply Model", section 10.3 | Shifts in Aggregate Supply_