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-If the Economy in the Diagram Above Is Open to Trade

question 95

Multiple Choice

  -If the economy in the diagram above is open to trade and the world price of oil is $20 per barrel,then this economy will __________ million barrels of oil. A)  import 7 B)  import 9 C)  import 11 D)  import 18 E)  export 7
-If the economy in the diagram above is open to trade and the world price of oil is $20 per barrel,then this economy will __________ million barrels of oil.

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Definitions:

Western Europe

A region comprising the western part of Europe, often characterized by developed economies, liberal democracies, and a high standard of living.

War In Afghanistan

A conflict initiated by the United States and its allies in 2001, targeting al-Qaeda and aiming to remove the Taliban from power in Afghanistan.

Grenada

A country located in the Caribbean Sea, comprised of a main island also called Grenada and smaller surrounding islands.

Caribbean Island

Any of the islands in the Caribbean Sea; these islands are known for their distinctive cultures, biodiversity, and major tourist destinations.

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