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In 1973, there was an oil supply shock created by OPEC (the Organization of the Petroleum Exporting Countries). Your textbook describes the supply shock as a source of the recession which lasted from 1973-1975.
Now the price of oil is dropping. Let's look at what happens when the supply shock is favorable.
Use aggregate demand and aggregate supply to explain why current oil prices are so low. It is certainly good for consumers, but is there a downside as well?
When oil prices drop, who benefits and who loses? Why? How?
Nintendo and Sony Playstation are each planning to introduce one new game into the market. Each is considering three different kinds of games: an urban action game like Grand Theft Auto, an adventure game like Tomb Raiders, or a strategy game like..
Discuss the components of Gross National Product? How does it understate aggregate production in Third World countries where substantial economic production may be consumed directly
Why can't all the balance of payments accounts be in surplus? What factors determine the demand for British pounds in foreign exchange markets
In replacement analysis for a vacuum seal on a spacecraft the following data are know about the challenger:
Does the principle of increasing "opportunity cost" hold in this nation? Explain briefly. (Hint: What happens to the opportunity cost of bread- measured in number of ovens as bread production increase?)
Show that if interest rates rise to 10 percent within the next year and your investment horizon is four years from today, you will still earn a 9 percent yield on your investment.
1. UNIX is highly portable. What is portability? What makes UNIX so portable? Why is portability so important? 2. Why do you suppose professional programmers find the consistency and elegance of UNIX so appealing?
Describe the shift in either the AD or AS (aggregate demand OR aggregate supply) curves, and in what range of the AS (if relevant), that would produce the following outcomes for the economy.
What are the differences between effective and aggregate demand and which one is most important in determining the equilibrium of Keynesian economy?
1. which of the following is always true?when marginal costs are less than average total costs average total costs will
What factors make it difficult to determine the unemployment rate? Why is unemployment an economic problem? What are the noneconomic effects of unemployment? Who loses from unemployment?
Prepare a 2-3 page paper using APA format discussing how the Coase Theorem provides an alternative to government regulation and provision of services. How is the definition of private property a critical part of this analysis?
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