Step 1. Access the CIA World Factbook at: https://www.cia.gov/library/publications/the-world-factbook/index.html

Step 2. Using the menu “Please select a country to view,” compute the total population in 2014 and the total Gross Domestic Product (GDP, official exchange rate, in US dollar) in 2014 of the EIGHT OPEC members that are INCLUDED in the Middle East region as DEFINED in this course (see PowerPoint slide 64). Divide the total GDP (official exchange rate in US$) of the eight OPEC countries by their total population to obtain the GDP per capita of the eight OPEC countries.

Step 3. Using the menu “Please select a country to view,” compute the total population (2014) and the total Gross Domestic Product (GDP, official exchange rate, in US dollar, in 2014) of the G7 countries or Group of Seven (United States, Japan, Germany, France, United Kingdom, Italy, and Canada). Divide the total GDP (official exchange rate in US$) of the G7 countries by their total population to obtain the GDP per capita of the G7 countries.

Step 4. Read carefully PowerPoint slides 67-72 and the OPEC brochure “Who Gets What From Imported Oil?” at http://www.opec.org/opec_web/static_files_project/media/downloads/publications/Who_Gets_What_(2014_September).pdf

Based exclusively on the exact six figures (no approximate figures and no rounded numbers!) you computed yourself in steps 2 and 3 (population, GDP, and GDP per capita for both the G7 countries and the eight OPEC countries) and based on the information you learned from PowerPoint slides 67-72 and from the OPEC brochure in step 4, write a concise essay (250-350 words) in which (1) you summarize your learning about the misconceptions surrounding the issue of who gets what from oil revenues and (2) you discuss the image (perception) versus the reality (fact) of the comparative wealth of the G7 countries and the eight Middle East OPEC members. Homework 2 is worth 10 points (10 percent of your final grade). Sources for homework assignments MUST be cited briefly and ONLY between parentheses in the text. Each homework assignment in this course must be formatted as a Microsoft Word file and uploaded through the TurnItIn link (View/Complete) by the deadline. No other submission will be accepted