During the 1970s, the nations in the Organization of Petroleum Exporting Countries (OPEC) manifested their market power by utilizing
A) export tariffs levied for revenue purposes.
B) export tariffs levied for protective purposes.
C) import tariffs levied for protective purposes.
D) import tariffs levied for revenue purposes.

Question

Quizplus · Accepted Answer

OPEC countries demonstrated their market power primarily through the use of export tariffs levied for revenue purposes, capitalizing on their oil exports.

During the 1970s, the Nations in the Organization of Petroleum