What impact did the rapid growth in drilling

Assignment Help Microeconomics
Reference no: EM132150119

Question: Go to the following website: Europe's oil capital feels the pinch (By Stephen Beard) and read AND listen to the story about British oil workers who experienced a boom and bust in employment in the oil drilling sector. Find (and CITE in your response) a couple of articles or websites that talk about the falling price of oil and its effect on EMPLOYMENT. Then, write your responses to the following prompts:

a. Briefly summarize the Marketplace.org story as well as the other research you have conducted

b. Oil drilling created boom (big, large, explosive expansion) in employment, companies were scrambling for employees to fill thousands of positions in the United States. Discuss WHAT IMPACT this frenzy to find employees had on WAGES and WHY.

c. What impact did the rapid growth in drilling, in places such as Nebraska, North and South Dakota and Alaska have on the labor force? For example, was this the opportunity for anyone-regardless of skill level, education or ability to find a high-paying job-even if it was for a short period?

Reference no: EM132150119

Questions Cloud

Can you see a strong pattern emerging : What's the connection between historical and modern personality theory. Can you see a strong pattern emerging?
Investment management system : MITS5501 Software Quality, Change Management and Testing - The Investment Management System (IMS) is intended to help the user keep account
What is gladys demand function for mystery novels : Gladys loves books and spends her money only on mysteries and science fiction novels and has a budget of $60 to spend on these two types of books.
Inputs and outputs in the food service systems model : Explain the functions of procurement and how each interacts with inputs and outputs in the Food service systems model.
What impact did the rapid growth in drilling : What impact did the rapid growth in drilling, in places such as Nebraska, North and South Dakota and Alaska have on the labor force?
Prepare economic analysis of three locations : Prepare economic analysis of three locations given following information: Annual costs for building, equipment and administration would be $38,200 for Memphis.
Which one statement about christopher columbus is true : Why did the Wilson Administration prosecute Robert Goldstein (and get him ten years in prison)?
Graphical analysis of the utility maximization problem : An individual utility function is given by U(c,h) = c·h, where c represents consumption during a typical day and h hours of leisure enjoyed during that day.
Making decisions using irr and payback analysis : Making decisions using IRR and payback analysis. How to evaluate multiple alternatives with multiple futures?

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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