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Direction: Refer to the following information on prices and production of crude oil for the period 1973-80 and answer the questions given below. In the first graph, the lines show the prices of crude oil per barrel for domestic production and imports while the bars show the domestic price as a percentage of the import price. In the second graph, the bars show average production of barrels per day in the US and Non-OPEC countries, while the line shows the consumption of oil in the US.
Q. What is the difference between the percentage change in the price of imported oil and the price of domestic oil in 1976?
  • a)
    2.55
  • b)
    -9.95
  • c)
    -19
  • d)
    1.25
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Direction: Refer to the following information on prices and production...
The price of imported oil has changed by
(13 - 13.5)/13.5 = -3.7%, while the change in the price of domestic oil is (8.5 – 8)/8 = 6.25%.
The difference between these values is difference
= – 3.7 – 6.25= – 9.95.
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Direction: Refer to the following information on prices and production of crude oil for the period 1973-80 and answer the questions given below. In the first graph, the lines show the prices of crude oil per barrel for domestic production and imports while the bars show the domestic price as a percentage of the import price. In the second graph, the bars show average production of barrels per day in the US and Non-OPEC countries, while the line shows the consumption of oil in the US.Q. What is the difference between the percentage change in the price of imported oil and the price of domestic oil in 1976?a)2.55b)-9.95c)-19d)1.25Correct answer is option 'B'. Can you explain this answer?
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Direction: Refer to the following information on prices and production of crude oil for the period 1973-80 and answer the questions given below. In the first graph, the lines show the prices of crude oil per barrel for domestic production and imports while the bars show the domestic price as a percentage of the import price. In the second graph, the bars show average production of barrels per day in the US and Non-OPEC countries, while the line shows the consumption of oil in the US.Q. What is the difference between the percentage change in the price of imported oil and the price of domestic oil in 1976?a)2.55b)-9.95c)-19d)1.25Correct answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Direction: Refer to the following information on prices and production of crude oil for the period 1973-80 and answer the questions given below. In the first graph, the lines show the prices of crude oil per barrel for domestic production and imports while the bars show the domestic price as a percentage of the import price. In the second graph, the bars show average production of barrels per day in the US and Non-OPEC countries, while the line shows the consumption of oil in the US.Q. What is the difference between the percentage change in the price of imported oil and the price of domestic oil in 1976?a)2.55b)-9.95c)-19d)1.25Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Refer to the following information on prices and production of crude oil for the period 1973-80 and answer the questions given below. In the first graph, the lines show the prices of crude oil per barrel for domestic production and imports while the bars show the domestic price as a percentage of the import price. In the second graph, the bars show average production of barrels per day in the US and Non-OPEC countries, while the line shows the consumption of oil in the US.Q. What is the difference between the percentage change in the price of imported oil and the price of domestic oil in 1976?a)2.55b)-9.95c)-19d)1.25Correct answer is option 'B'. Can you explain this answer?.
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