Explai if these price increases are demand or supply induced

Reference no: EM13176291

During the energy crisis of the 1970s, and again in the last 5 years, Congress bemoaned the "price gouging" and "windfall" profits of the major oil companies. In the 1970s Congress imposed an "excess profits tax" on these companies. It did not do so this time? What does this change show about how our understanding of the way the price system works to allocate resources has evolved? If "excess profits" are taxed away, where will oil companies get the money to fund new exploration and development of oil properties? Does it matter if these price increases are demand or supply induced?

Reference no: EM13176291

Questions Cloud

How many grams of each product would be produced : If 200 mL of a .20 M HCl solution is consumed in the above reaction, how many grams of each product would be produced?

What is the ph of the solution of hcl have been added : A chemist titrates 100 ml. of .020 M aqueous ammonia solution with .10 M HCl at 25 degrees C. What is the pH of the solution after 20 ml of HCl have been added to the solution?

Birth of a healthy grandson : After receiving exciting news about the birth of a healthy grandson, Mr. Haney was easily persuaded to contribute a generous sum of money to a neighborhood church. This best illustrates the

Calculate the volume the gas would occupy at stp : A gas occupies a volume of 449 mL at 12.9°C and 737 mm Hg pressure. Calculate the volume the gas would occupy at STP.

Explai if these price increases are demand or supply induced : During the energy crisis of the 1970s, and again in the last 5 years, Congress bemoaned the "price gouging" and "windfall" profits of the major oil companies. In the 1970s Congress imposed an "excess profits tax" on these co..

Important business decision : Why is selecting computer hardware and software for the organization an important business decision? What factors should be considered?

Determine net income for nomar for 2013 : Determine net income for Nomar for 2013. Ignore income taxes and prepare the journal entries to record the costs incurred and gross profit recognized in 2013 on the construction project.

Determine the amino acid sequence of a heptapeptide : Determine the amino acid sequence of a heptapeptide from the following data. Briefly explain the meaning of the results in each of the following treatments.

What is the molarity of the hcl solution : The titration of 15.00 mL of HCl solution requires 22.50 mL of 0.1200 M NaOH solution. What is the molarity of the HCl solution?

User Account

All Pages