Which of the following country has 25 percent of the world’s estimated oil reserves and the lowest cost production as well as a dominant role in OPEC pricing ?
A. Russia
B. Saudi Arabia
C. Iraq
D. Venezuela
A. Russia
B. Saudi Arabia
C. Iraq
D. Venezuela
A. 10%
B. 0.002%
C. 2%
D. 0.5%
A. reduction in spending on military goods leads to economic depression
B. dependence on foreign trade usually leads to a weakened national economy
C. territorial aggression is not necessary to secure national economic goals
D. democratic institution hinder economic growth
A. behave like competitive firms
B. agree to act together
C. differentiate their products
D. practice price discrimination
A. export promotion
B. import promotion
C. international commodity agreements
D. multilateral contracts
A. the buyers
B. Neither buyers nor sellers desire a price floor.
C. the sellers
D. Both buyers and sellers desire a price floor.
A. GDP increase
B. Inflation is likely to increase
C. Stock levels are likely to increase
D. Investment in equipment is likely to increase