What is one of the reasons why consumer countries did not use more extreme measures, such as force, during the oil crisis?
a. They knew that refinery capacity and the business cycle would catch up with the glut and bring prices back down.
b. They reasoned that high prices would spur minor producers to increase drilling and exploration and ultimately break the Middle East control over oil production.
c. The sensitivity interdependence that led to high energy prices was regarded as good by important political actors in the consumer countries.
d. Distributing oil companies redistributed reduced oil supplies to make up for the shortfall.
e. Economic interdependence prevented consumer countries from taking radical actions because they had lost a measure of sovereignty over their own economic affairs.
Question 2
Which of the following was among the reasons for the creation of the Concert of Europe in 1815?
a. Napoleonic Wars
b. Sino-Soviet split
c. The end of the Holy Roman Empire
d. Advances in industry and technology
e. The Thirty Years War
Force
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