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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Which television show symbolized the greatest boom in history during the 1980s?
(a) Love Boat
(b) LA Law
(c) M.A.S.H.
(d) Dallas

2. Who succeeded Nasser in 1970?
(a) Anwar Sadat
(b) Leonid Brezhnev
(c) Golda Meir
(d) Hafez al-Assad

3. What was central in the rise of Arab nationalism?
(a) The attack on Egypt
(b) Oil
(c) The Shah of Iraq
(d) Western culture

4. What was a military action to capture Abadan that the British considered?
(a) Plan Fraser
(b) Plan Arabia
(c) Plan Oil
(d) Plan Y

5. The exporters' combined earnings was how much in 1977?
(a) 420 billion
(b) 75 million
(c) 22 million
(d) 140 billion

Short Answer Questions

1. Who called for a "new concept" that would base the price of oil on the cost of alternative energy sources?

2. In 1986, how many oil ministers met in Saudi Arabia and agreed on $18 per barrel plus a new quota system?

3. Who feared the demise of OPEC?

4. OPEC agreed on what posted price per barrel of oil?

5. What was the main determinant of energy and oil consumption?

Short Essay Questions

1. What events change the oil landscape in Iran? What happened to Mossadegh?

2. What was at the heart of the Arab oil embargo? How did other countries feel about the issues?

3. What is the Suez Canal? Why was it important for the oil industry?

4. Who was "Sheikh" Ahmed Zaki Yamani? What impact did he have on the oil industry?

5. OPEC was founded with which goals in mind?

6. What tensions existed between Iran and Iraq? What effect did this have on the oil market?

7. How did Venezuela respond to events in the Middle East?

8. What factors weakened OPEC's position in the mid-1980s?

9. How did oil companies and governments react to the Second Oil Shock?

10. Venezuela's Alirio Parra helped stabilize OPEC through a meeting with oil leaders. Why was the meeting held? What came out of this meeting?

(see the answer keys)

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