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Question 1: Price of oil in international markets has dropped stunningly 60% in the past twelve months. Among the factors mentioned behind this drastic fall is the millions of barrels of oil produced in the US called shale oil." and analyze:
1. The market structure for oil industry
2. The supply and demand for oil in that market structure
3. The pricing of oil at the presence of OPEC and the role of Speculators
Question 2: Why shale oil is a substitute for oil and explain the news in regard to the Cross elasticity of demand.
Critically discuss the strengths and weaknesses of using per capita national income (even once adjusted for purchasing power parity) as a measure of welfare. Discuss at least two alternative measures of national welfare that have been put forward? ..
Discuss the three basic ways by which the government may implement an expansionary fiscal policy.
Given an increase in spending of $1,000, and a Marginal Propensity to Consume of 80% (8/1 0), what would be the total increase in the GDP (as a result of the Multiplier?) What would the Multiplier be? Show your work.
Consider an issue in public economics of your own choosing. Provide a full background to the problem and identify the role for government (or other) in generating a solution.
The problem related to Economics, particularly Macroeconomics. It is deals with the indicators of economic development and the associated political risk.
Must write introduction ONLY on The Effect of Trade Liberalisation on Unskilled Workers in Developed Countries.
Illustrate applying Supply and Demand analysis the impact of price ceilings on beef in Venezuela. Also, make sure to explain your graph.
In this case there will be a cash outlay of $550,000 at the end of the first yr followed by a cash payment of $650,000 at the end of the second year.
(a) (i) Draw the demand and supply of food as a function of the domestic price of food keeping the price of coffee fixed, the imports of food and label the point X. (ii) The equilibrium with the Finance minister's proposal.
Determine the Groups Share of and the Income Split Point for Individual Income Taxes as of 2003 for the following group of income earners:
while referring to the eye on your life section on page 389 of the textbook discuss the change in the u.s. unemployment
How has the consumer expenditure survey behaves since the year 2000 to present
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