Who's afraid of cheap oil?

1. What is the general impact of a 10% fall in oil prices?

• Boosts growth by 0.1-0.5 percentage points

• 1. Reduces growth by 0.1-0.5 percentage points

• No impact on growth

• 1. Boosts growth by 1-2 percentage points

1. What has been the percentage drop in the price of oil in the past 18 months according to the text?

• 1. 50%

• 1. 75%

• 1. 60%

• 1. 80%

1. What is the potential output of Iran in oil markets?

• 1. 1m—2m b/d

• 1. 3m—4m b/d

• 1. 5m—6m b/d

• 1. 2m—3m b/d

1. What is the deficit of Saudi Arabia according to the GDP?

• 1. 10%

• 1. 15%

• 1. 20%

• 1. 25%

1. Which country has declared an economic state of emergency due to inflation?

• 1. Russia

• Venezuela

• Saudi Arabia

• 1. Libya

1. What is the status of the purchasing managers’ index for December mentioned in the text?

• 1. 48.2, indicating accelerating contraction

• 1. 48.2, indicating accelerating growth

• 1. 50.0, indicating stable market

• 1. 52.0, indicating accelerating growth

1. What is the status of American manufacturing according to the purchasing managers’ index for December?

• 1. Stable

• 1. Accelerating growth

• 1. Accelerating contraction

• 1. Slow growth

1. The world is drowning in oil, with Saudi Arabia pumping at almost full (a)   .

1. The (a)   of a barrel of oil has fallen by 75% in the past 18 months.

1. The (a)   in oil prices has been beneficial to consumers but detrimental to producers.