In 1973,the Organization of Petroleum Exporting Countries

question 10

Multiple Choice

In 1973,the Organization of Petroleum Exporting Countries

• A) raised the price of oil by 500 percent.
• B) both refused to ship oil to all nations that supported Israel, and raised the price of oil by 500 percent.
• C) All these answers are correct.
• D) refused to ship oil to all nations that supported Israel.
• E) helped to precipitate a fuel shortage in the United States.

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Definitions:

Revenue

The total amount of income generated from the sale of goods or services before any expenses are subtracted.

Spending Variances

Differences between the actual spending and the budgeted or planned spending in a given period, often analyzed in cost and managerial accounting.

Customers Served

The number of clients or customers that have been provided with services or goods by a business within a certain timeframe.

Revenue

The aggregate revenue produced from the sales of goods or services central to a company's main business activities.