Refer to the information provided in Figure 33.5 below to answer the question(s) that follow. Figure 33.5
-Refer to Figure 33.5. The domestic price of oil is $130 per barrel. This country imports 14 million barrels if the world price of oil is $________.
A) 120
B) 125
C) 135
D) 140

Question

Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.  Figure 33.5
-Refer to Figure 33.5. The domestic price of oil is $130 per barrel. This country imports 14 million barrels if the world price of oil is $________.
A) 120 
B) 125 
C) 135 
D) 140

Quizplus · Accepted Answer

The correct answer is A because the world price of oil must be lower than the domestic price of oil in order for the country to import oil.

Refer to the Information Provided in Figure 33