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Since Fall of 2012, the price of oil has shown a steady decline as continued increase of global oil production that has far exceeded the rising demand for oil. Accordingly, many analysts in the energy field have had predicted the likelihood of further decline in oil price in the US market as the US continues to expand its domestic oil production with a long term objective of becoming even net exporter of oil by Y2030. Read some articles in the web on Shale Oil Production in US it s future.
Given the significant trend of declining oil price and expected independence of oil production by US in coming decade, draw an AS/AD diagram of macroeconomics model (not the oil market itself), explaining the effect on the US macro-economy of expected decline in oil price in 2013 and beyond. In your explanation in words with the help of 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 fall in oil price on the US economy by using the same AD-AS model during the recovery period of the economy from its great recession of 2008. The most recent price of crude oil is fluctuating within the range between $80 and $85/barrel.
Finally, explain why sharp decline in oil prices might not necessarily have positive or negative impact on the US equity markets (stock market) even at the current trend of volatile oil prices.
Terrorist attacks foster instability and may affect productivity over the short and long term. Do you think the September 11, 2001, terrorist attacks on the World Trade Center and the Pentagon affected short- and/or long-term productivity in the U..
During the 1980s, the US Cingress imposed a high sales tax on yachts, figuring that the rich could afford to pay for this luxury. But so many jobs were lost in the boat-building industry that the measure was finally repealed.
The Oreo has long been the top selling cookie in the U.S. market. But Kraft Foods Inc. had to reinvent the Oreo to make it sell well in China given that the Chinese were not big cookie eaters. Kraft learned that traditional Oreo were too sweet for..
Do you think that a country’s government should assist private business in the conduct of international trade through direct loans, loan guarantees, and/or credit insurance?
Explain why both nations with high living standards and nations with low living standards face the problem of scarcity. If you won $1 million in a lottery, would you escape the scarcity problem
Assume that on January 1, 1999 spot exchange rate was Yen/£=198. Over the year, British inflation rate was 4 percent, and the Japanese inflation rate was 6 percent.
The firm you work for is expanding its business and would like to start to trade with another nation.
Determine the WTO and how its relate to international trade? Dicuss how many nations belong to the WTO? What did the Uruguay Round (1994) of WTO trade negotiations accomplish?
Critically evaluate the rules and institutions of the Bretton Woods system. What lessons do these features provide for Economic and Monetary Union policymakers?
go to the organization for economic cooperation and development oecd website read about a program to help decision
Provide an introduction to your position paper with a clear thesis statement that provides an overview of the paper and analyze three (3) of the major issues facing corrections today, highlighting their historical development.
Suppose the U.S. has 1200 hours of labor. It can produce two goods: passenger cars and personal computers. The unit labor requirement in the production of passenger cars is 1.5 hours and in the production of personal computers is 1 hour.
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