In october of 1973, opec- the organization of petroleum exporting countries- joined together and refused to allow the united states to purchase oil from its member countries. as a result, by spring of 1974 oil prices had roughly tripled in the united states.
what international trade situation is being described here?
a) a quota
b) a surplus
c) an embargo
d) an opportunity cost
Answers: 3
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In october of 1973, opec- the organization of petroleum exporting countries- joined together and ref...
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