Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Article: Why you should worry about big oil. The oil industry is in the business of extracting and selling oil. It is the goal of the oil companies to do this as efficiently as possible. One of the main obstacles that plague the American oil industry is access to the world's oil reserves. Many countries in which major oil reserves are located restrict other nations' access. Another obstacle is that nations who were once willing to bargain now realize that the high demand for oil allows them to demand higher prices. Yet another obstacle is the ability to keep up with the replacement of oil reserves. With the high demand for oil in America and the increase in usage by other countries, oil production will need to increase. While we are beginning to see the exploration of unconventional methods, any acceptable replacement for oil is a long way off.
The price elasticity of demand for the oil industry at the present time is inelastic. We have become so dependent on oil that it is considered a necessity that we depend on in our everyday lives. Therefore, we have little other choice than to pay whatever price is demanded. The price elasticity of supply is such that the more oil produced the lower the price. When there is an abundance of oil, the price is lower.
Suppose two nations are considering specializing in either calculators or personal computers. If solely producing calculators, country A can produce 300 and country B can produce 400.
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
If your payroll (budget) is increased to $120,000, what should you do to maximize the number of customers served?
Draw marginal revenue function for this firm. What is the profit-maximizing price for this firm? On the graph describe the area, this represents the net loss to society resulting from the monopoly power conferred by the patent.
We have learnt that in a perfectly Competitive market, all cost savings from a technological advance are passed along to cnsumer in the form of lower prices
Using the exchange rates and prices in the tables above:
According to economist, if savings equal $5 trillion and spending equals $100 trillion, what will investment equal?
Assume that the following information about the economy is correct. The potential GDP is 3 percent. Real GDP has fallen at a minus two percent rate in the last 12 months.
For each of the following concepts provide a definition, a complete explanation as to their significance, and a practical example.
Draw a current budget constraint for an assumed single mother (net of child care costs) who loves leisure. Draw the new constraint. Discuss the likely effects on labor force participation and hours of work.
What are the advantages of Fed increasing interest rates if the GDP gap is positive?
Between your answers to parts b and c, which prices/capacity are best applied from a social welfare perspective? Why?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd