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The opening statement on the Web site of the Organization of Petroleum Exporting Countries says, "OPEC's eleven members are all developing countries whose economies are heavily reliant on oil export revenues. THey therefore seek stable oil prices that are fair and reasonable for both producers and consumers of oil." To achieve this goal, OPEC attempts to coordinate and unify petroleum policies by raising or lowering their collective oil production. However, increased production by Russia, Oman, Mexico, Norway, and other non-OPEC countries has caused the price of crude oil to fall dramatically in recent years. To achieve its goal of stable and fair oil prices, what must OPEC do to maintain the price of oil at its desired level? Do you think this will be easy for OPEC to do?
Describe the economic and political economy aspects of the globalization debate. Why has globalization created so much controversy.
Corporation A is planning the purchase of a new machine that would lower cash outflow. The cost of the machine is 30,000. The annual reduction in cash flows is:
Compute the effective price reduction resulting from the coupon promotion.
Determine the four stages of the Business Cycle and compare and Contrast five internal and external Business Cycle theories.
Illustrate what is the impact of these ratios on the level of new money that can be created given a $100,000 cash deposit into the banking system.
The table below is a production possibility table for the fictional country of Myopia. Use it to construct the corresponding production possibility curve.
When the price of a box of herbal tea bags rises from $0.99 to $1.21, the quantity offered for sale rises from 400,000 to 600,000. What is the price elasticity of supply? 2. When the price of wheat rises from $2.34 to $2.46, some farmers switch cr..
Research the elasticity of beef and eggs in regards to price changes. Explain how do supply, demand, and price controls interact to affect equilibrium price of eggs
Explain how has a more diversified labor force affected the corporate structure and the economy.
What is the role of advertising in each of the four market structures? As you answer these questions, illustrate your points with original examples.
Write a short explanation of the article using one of the following economic models: GDP, AD & AS or circular flow of income and describe the economic situation in the UAE based on the article.
Discuss should the government minimize unemployment rate? What will happen if the unemployment rate is too low?
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