In 1975, OPEC Did Not Allow the Export of U

question 23

Multiple Choice

In 1975, OPEC did not allow the export of U.S. crude oil in order to drive up the price of oil. This action is an example of a(n)

• A) local content requirement.
• B) export ban.
• C) trade surplus.
• D) subsidy agreement.
• E) export tariff.

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Definitions:

National Governments

The organization that is the governing authority of a political unit, the ruling power of a nation.

Informed Policy Decisions

Policy choices made based on thorough understanding and evaluation of relevant information, evidence, and potential outcomes.

Hunger And Poverty

The state of not having enough food to meet basic nutritional needs and the condition where individuals or communities lack the financial resources to meet basic living expenses.

Subsistence Farming

A type of agriculture where farmers focus on growing enough food to feed themselves and their families, with little or no surplus for trade.