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Since Fall of 2011, the price of oil has shown a sharp increase again as continuation steady rise in oil price attributed to the Arab Spring (the political uprising in the Middle Eastern and North African countries) started in the beginning of 2011. This upward trend of oil price has been further triggered by the recent tension in Iran on its Nuclear proliferation and the threat of blocking the oil export through the Harmuz Strait. Accordingly, many analysts in the energy field have predicted the likelihood of rise in oil price up to $5/gallon by coming summer in the US market.
Given the circumstances above about the oil market, draw an AS/AD diagram, which shows the effect on the US macro-economy of expected oil price @ $130+ per barrel versus the oil price at $100+ per barrel (in the beginning of 2012). In your explanation in words about the diagram, you must clearly explain the connection between changes in oil price and the fluctuations in macroeconomic fundamentals in the US economy. Then show the impact of continuous rise oil price on the US economy by using the AD-AS model during the recovery period of the economy from its great recession of 2008. (The most recent price of crude oil is about $104+/barrel).
Assume that nominal interest rate on 3-month Treasury bills is 8 percent in the United States and 6 percent in the U.K., and the rate of inflation is 10% in the United States and 4% in the U.K.
The United State imports Japanese cars with a domestic price of 5,000,000 yen and the yen or dollar exchange rate is 120 on January 1, 2003.
One of the basic premises of a capitalistic economy is ownership of private property. This comprises the ownership of private firms, in part or in entirety.
In 1996, Kodak paid a cash dividend of $1.60 a share. At year-end 1996, Kodak shares were trading at about $80 each share. In 1997 and 2001, Kodak paid $1.76, & in 2002 increased its dividend to $1.80.
Big businesses and small businesses now compete in a truly global economy. To be successful in another nation it is essential to understand and appreciate the cultural differences that exist.
The extensive application of protective tariffs destroys ability of international market system to allocate resources efficiently.
The organization that develops and recommends to the U.S. President national economic policies to foster maximum employment, production, and purchasing power is the a. Joint Economic Committee
Suppose the following data, and answer the question below. China and England are international trade partners. The following information are expected payoffs for the two countries.
In a day of production, companies in Angola can manufacture 200 liters of oil or 100 kilograms of tungsten. Companies in Namibia can manufacture 160 liters of oil or 60 kilograms of tungsten.
What is the opportunity cost of producing rice in US??Confirm the existence of comparative advantage by computing opportunity costs and filling in the table below. What is the pattern of comparative advantage?
Draw the production possibility frontiers for Germany and what are the autarky relative prices of airplanes (P A /P C ) in Germany and Japan?
Calculate the forward discount or Premium for the Mexican peso whose 90-day forward rate is $.102 and spot rate is $.10. State whether your answer is a discount or premium.
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