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The purpose of this assessment is to help you analyze the factors that lead to fluctuations in the oil prices. Assessment Description: Use a credible source to research oil prices. Based on your research, answer the following questions: Why is the price of oil fluctuating? What are the factors responsible for the price fluctuation? Are the factors common across the world or do these factors change with respect to geographic regions? Will deregulating the oil prices globally help in stabilizing the oil prices? How do the government policies influence the oil pricing? Create an economic graph to support your analysis.
Assume Norway and Sweden trade with each other, with Norway exporting fish to Sweden, and Sweden exporting Volvos (cars) to Norway. Illustrate the gains from trade between Norway and Sweden using the standard trade model, assuming first that tastes f..
Discuss economic forces (supply factors, demand factors, government policy) that affect the health care market.
A firm production function is given by q = f(k,l) = k·l1/2. w = $20, v = $5. Consider a short-run situation where the level of capital is fixed at k1 = 10. At p = $12, in the short-run, what is the quantity supplied by this price-taking firm? compute..
Suppose that there are two products: clothing and soda. Both Brazil and the United States produce each product. Brazil produces 100,000 units of clothing per year and 50,000 cans of soda
The American people express a relatively high degree of confidence in the military as an institution yet express less confidence in Congress than in other major institutions. Could people be holding various institutions to different standards, and if..
What exactly is game theory?
Describe who bears relatively more of the burden of the tax, producers or consumers and illustrate your answer with a diagram.
Take the following problem statement and see if you can come up with three “creative” solutions. Problem statement: “Customers too frequently use an airline and fly to a destination only to find out that their luggage has not arrived.”
Cost-push inflation can be called
Herald Richter and Associates, 5 years ago, purchased for $45,000 a microwave signal graphical plotter for corrosion detection in concrete structures. It is expected to have the market values and annual operating costs shown below for its remaining u..
In 1992, thirst Bush administration was worried about a lingering recession. The administration announced that households would receive a reduction in their taxes for the year 1992. However, this was not accompanied by a reduction in tax rates, and t..
If the wage rate for his primary job increases to $22 per hour, will Ralph increase or decrease the number of hours he works in the secondary job?
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