OPEC is the ?

Related Mcqs:

1. 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

2. The ability of the Organization of Petroleum Exporting Countries (OPEC) to maximize profits is hampered by ?

   A. a lack of substitutes for oil
   B. similar cost schedules for member countries
   C. highly inelastic world demand curve for oil
   D. economic recession for oil importing nations

3. The Organization of Petroleum Exporting Countries (OPEC) is a(n) _________whose members agree to limit output and fix prices?

   A. monopoly
   B. entropy
   C. industry
   D. cartel

4. 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 ?

   A. Russia
   B. Saudi Arabia
   C. Iraq
   D. Venezuela

5. IF GNP per capita at constant prices for Liechtenstein a microstate of 29,000 people located on the Rhine River between Switzerland and Austri is US$555 and US$560 in 2011 and 2012 respectively, the real economic growth from 2011 to 2012 is ?

   A. 5%
   B. 0.901%
   C. 0.090%
   D. 0.991%

6. All of the following are low income countries except ?

   A. United Arab Emirates
   B. Armenia
   C. Sudan
   D. Bangladesh

7. The three measure of welfare indicators above comprise the ?

   A. Purchasing Power Parity
   B. Physical Quality of Life Index
   C. Human Development Index
   D. The Laspeyres index

8. If GDP for Barbados is $260 million in 2011 and its population is 260,000 GDP per capita is ?

   A. 1000
   B. 260
   C. 0.001
   D. 259740

9. Which of the following are low income countries income country ?

   A. Canada
   B. United States
   C. Mexico
   D. Australia

10. According to the next basic needs include ?

    A. food, clothing and housing
    B. health, education and quality housing
    C. adequate nutrition, primary education health sanitation water supply and housing
    D. longevity and living standards