Which of the following country has 25 percent of the world’s estimated oil reserves and the lowest cost production as well as a dominant role in OPEC pricing ?

Related Mcqs:

1. For the United States suppose the annual interest rate on government securities equals 8 percent while the annual inflation rate equals 4 percent, For Switzerland the annual interest rate on government securities equal 10 percent while the annual inflation rate equals 7 percent the above variables would cause investment funds to flow from ?

   A. the United States to Switzerland causing the dollar to depreciate
   B. the United States to Switzerland causing the dollar to appreciate
   C. Switzerland to the United States causing the franc to depreciate
   D. Switzerland to the United States causing the franc to appreciate

2. For the United States suppose the annual interest rate on government securities equals 12 percent while the annual inflation rate equals 8 percent For Japan the annual interest rate on government securities equals 10 percent while the annual inflation rate equals 5 percent the above variables would cause investment funds to flow from ?

   A. The United States to Japan causing the dollar to depreciate
   B. The United States to Japan causing the dollar to appreciate
   C. The Japan to United States, causing the dollar to depreciate
   D. The Japan to United States, causing the dollar to appreciate

3. The difference between a bank’s actual reserves and its required reserves is its?

   A. required reserve ratio
   B. profit margin
   C. excess reserves
   D. net worth

4. In 2003, the UN Development Program estimated that a 1-percent LDC per capita consumption growth, with income inequality unchanging, would reduce the poverty percentage by _________ percent yearly?

   A. 0
   B. 2
   C. 6
   D. 0.5

5. The OPEC oil cartel ?

   A. has shown that is easy to achieve cooperation among cartel members
   B. was successful in raising oil prices in the 1970s but was disbanded in the 1980s
   C. has shown greater success in realizing profits during periods of global recession
   D. has had a level of success in raising oil prices that other developing countries are unlikely to achieve with other primary commodities

6. Suppose that 40 percent of the voting population wish to spent Rs1,000 for artwork in City Hall, 25 percent wish to spent Rs20,000 and 35 percent wish to spend Rs 22,000 What is the median preferred outcome, the average preferred outcome and the modal preferred outcome ?

   A. Rs20,000; Rs20,000; Rs22,000
   B. Rs1,000; Rs14,333; Rs1,000
   C. Rs20,000; Rs13,100; Rs1,000
   D. Rs1,000; Rs20,000; Rs22,000

7. Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?

   XA. wages and rents should fall in Country A
   B. wages and rents should rise in Country A
   C. wages should rise and rents should fall in Country A
   D. wages should fall and rents should raise in Country A

8. Which of the following is true regarding the production and pricing decisions of monopolistically competitive firms? Monopolistically competitive firms choose the quantity at which marginal cost equals ?

   A. marginal revenue and then use the demand curve to determine the price consistent with this quantity
   B. average total cost and then use the supply curve to determine the price consistent with this quantity
   C. marginal revenue and then use the supply curve to determine the price consistent with this quantity
   D. average total cost and then use the demand curve to determine the price consistent with this quantity

9. Given a two-country world, suppose Japan devalues the yen by 20 percent and west German devalues the mark by 15 percent This result is a (an)?

   A. appreciation in the value of both currencies
   B. depreciation in the value of both currencies
   C. appreciation in the value of the yen against the mark
   D. depreciation in the value of the yen against the mark

10. Name the country which has the largest natural gas reserves in the world ?

    A. India
    B. Canada
    C. Italy
    D. Russia