Which of the Following Was Not a Reason OPEC Failed

question 73

Multiple Choice

Which of the following was not a reason OPEC failed to keep the price of oil high?

• A)Over the long run, producers of oil outside of OPEC responded to higher prices by increasing oil exploration and by building new extraction capacity.
• B)Consumers responded to higher prices with greater conservation.
• C)Consumers replaced old inefficient cars with newer efficient ones.
• D)The agreement OPEC members signed allowed each country to produce as much oil as each wanted.

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Definitions:

Psychosocial Development

A concept introduced by Erik Erikson, referring to the growth and development of the individual’s psyche in and interaction with their social environment.

Initiative

A willingness to take charge or begin actions independently.

Guilt

An emotional state that arises from the realization or belief that one has committed an error, offense, or violated a moral standard.

Psychoanalytic Work

involves the application of psychoanalytic theories and techniques to explore and treat the unconscious motivations and conflicts underlying mental disorders.