When the Nations That Constitute the Organization of Petroleum Exporting

question 41

Multiple Choice

When the nations that constitute the Organization of Petroleum Exporting Countries (OPEC) restrict the supply of oil to increase their profits,the oil market:

• A)achieves an efficient outcome because profits increase.
• B)achieves an equitable outcome because the nations with oil resources receive the profits commensurate with that resource.
• C)fails because there is no longer an efficient allocation of resources.
• D)fails because there is no longer an equitable allocation of resources.

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Definitions:

Preferred Communication Style

An individual’s favored way of exchanging information and ideas with others, such as through verbal, written, visual, or nonverbal means.

Active Voice

A grammatical voice where the subject of the sentence performs the action expressed by the verb.

Intimacy

Refers to a close, familiar, and usually affectionate or loving personal relationship with another person or group.

Tone

The attitude or approach that the speaker or writer takes towards the subject, reflected in their choice of words or style.