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This week's topic is the impact of the increase in the supply of domestic natural gas and oil from the fracking boom. The topic is NOT the pros and cons of fracking per se. So do not discuss that. Rather the purpose is to better understand the impact on the US Aggregate Supply from a higher supply of energy and the lower energy prices that follow an increase in the supply of energy. Since energy is an input into most all production and transportation, changes in energy prices ripple through the economy and impact prices in all sectors of the economy.
1. What is the most likely impact on energy prices and the American Aggregate Supply from fracking?
2. Read, "Fracking" Transforms Energy Markets in the United States, pages 530 and 531 in Money, Banking and Financial System Second Edition. Illustrate through discussion of how the AS-AD graph would change (you do not have to draw the graphs, just refer to the ones in the text). How do these changes impact the American economy?
Assume that Indonesia is a small open economy. Explain how a decrease in the level of taxes (T ∗ ) in the rest of the world affects the world interest rate, the Indonesian interest rate, level of investment, net exports and net capital outflows in In..
Suppose that there are two consumers in an exchange economy with two goods. There are total of ten units of each good. The initial endowments for these consumers are (e1x, e1y) for consumer 1 and (e2x, e2y) for consumer 2, where e2x = 10 – e1x and e2..
The rationality assumption as used in economics
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which limits amount of goods they can purchase. Preference Consumers always choose goods which give most pleasure. So how do we measure about pleasure.
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Conclude a price range where there might be a mutually beneficial insurance contract.
Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The United States has 30 workers and..
In what specific way do growing populations and booming economics add to the challenge of reducing GHG emissions? To what extent might these characteristics explain the failure of some countries to meet their Kyoto targets?
If the variable is almost normally distributed does that mean you use common distribution.
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