If Exporters of a Primary Product Form an International Cartel

question 42

Multiple Choice

If exporters of a primary product form an international cartel, then:

• A)the importing countries will be forced to reduce the barriers on their imports.
• B)the world supply of the primary product will expand substantially.
• C)the world efficiency will increase.
• D)output of the primary product will fall and its price will rise.

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Definitions:

Generation X

This term refers to the generation of people born approximately between the early-to-mid 1960s and the early 1980s, recognized for their distinct cultural and economic experiences.

Baby Boomers

The demographic cohort born approximately between 1946 and 1964, noted for its significant size and impact on society and the economy.

Constraint

A limitation or restriction on actions, activities, or decisions.

Cooperation

A process where two or more entities work together toward achieving a common goal, often entails sharing information, resources, and efforts.