Most Developing Countries Are in Trouble Whenever Oil Prices Rise

question 147

Multiple Choice

Most developing countries are in trouble whenever oil prices rise because _____.

• A)they are the major exporters of oil and their export income falls
• B)it causes political instability in the countries
• C)it causes an increase in frictional unemployment
• D)higher oil prices drain the developing countries of foreign exchange
• E)it causes deflation in domestic economies.

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Definitions:

Innovation

The process of introducing new ideas, methods, or products to create value or solve problems, often leading to competitive advantage.

Lower-Level Employees

Workers who hold positions with less responsibility and authority within the organizational hierarchy.

CEO

Chief Executive Officer, the highest-ranking person in a company or organization, ultimately responsible for making managerial decisions.

Top Management

The highest level of administrative and executive officers who direct and control an organization.