The high price of gasoline is hurting our economy

Assignment Help Business Economics
Reference no: EM131085113

“The high price of gasoline is hurting our economy” said Mark Kirsch, a trucker in April of 2008 when Gasoline prices were at all-time highs due to $100/bbl. + oil prices. “Its hurting middle class people.”

Explain to truck drivers why a government imposed cap on the price of gasoline would hurt the middle-class more than the high price of gasoline hurts.

Reference no: EM131085113

Questions Cloud

Parallel with a circuit comprising : A coil of resistance 50 Ω and inductance 0.318 H is connected in parallel with a circuit comprising a 75 Ω resistor in series with a 159 μF capacitor. The resulting circuit is connected to a 230 V, 50 Hz a.c. supply. Calculate:
Empirical demand function for good : The empirical demand function for good X is estimated in log-linear form as ln Qˆ = 11.74209 – 1.65 ln P + 0.8 ln M – 2.5 ln PY where Qˆ is the estimated number of units of good X demanded, P is the price of X, M is income, and PY is the price of rel..
Computing the output voltage : An amplifier has an input voltage of 8 mV and an output voltage of 480 mV. The input current in phase with the voltage is 200μA and the power gain is 3000. Determine:
Satisfy the statement h1 is a cycle : "G has subgraphs H1, H2, . . . , Ht, with Ht = G and Hi a subgraph of Hi+1 for each i, satisfying the following properties: H1 is a cycle
The high price of gasoline is hurting our economy : “The high price of gasoline is hurting our economy” said Mark Kirsch, a trucker in April of 2008 when Gasoline prices were at all-time highs due to $100/bbl. + oil prices. “Its hurting middle class people.” Explain to truck drivers why a government i..
Develop computer based solution to business problems : Prepare a business plan to be submitted to a bank for the purpose of company loan application - Develop computer based solution to business and organizational problems
Measure the voltage across : A voltage of 100 V is applied to a circuit comprising two 50 kΩ resistors in series. A voltmeter, with an FSD of 50 V and a figure of merit 1 kΩ/V, is used to measure the voltage across one of the 50 kΩ resistors. Calculate:
Disappeared as budget-conscious consumers cut back : In the past year, the price of dry-cleaning solvent doubled. More than 4000 dry cleaners across the country disappeared as budget-conscious consumers cut back. This year the price of hangers used by dry cleaners is expected to double. Explain the eff..
Problem regarding the corresponding core loss : A single-phase transformer has 480 turns on the primary and 90 turns on the secondary. The mean length of the flux path in the core is 1.8 m and the joints are equivalent to an airgap of 0.1 mm. The value of the magnetic field strength for 1.1 T i..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd