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The opening statement on the Web site of the Organization of Petroleum Exporting Countries says, "OPEC's eleven members are all developing countries whose economies are heavily reliant on oil export revenues. THey therefore seek stable oil prices that are fair and reasonable for both producers and consumers of oil." To achieve this goal, OPEC attempts to coordinate and unify petroleum policies by raising or lowering their collective oil production. However, increased production by Russia, Oman, Mexico, Norway, and other non-OPEC countries has caused the price of crude oil to fall dramatically in recent years. To achieve its goal of stable and fair oil prices, what must OPEC do to maintain the price of oil at its desired level? Do you think this will be easy for OPEC to do?
Assume the government imposes a tax of $2.00 per unit to reduce widget consumption and raise government revenues. What will the equilibrium quantity be?
Black Diamond Tennis & Golf Club offers golf and tennis memberships to residents of Black Diamond, Ohio, in which there are 2-types of families:
The demand for watermelons is highest during summer also lowest during winter. Yet watermelon prices are normally lower in summer than in winter.
The treasurer of a U.S. firm noted that although short run deposits in Swiss bank accounts had earned the company only a 3% annualized return when measured in Swiss francs, in dollars the company had realized a 12% rate of return.
A Federal Reserve Bank has recruited the economic consulting firm to prepare a paper on how the use of money has changed over the past 20 years.
Consider a market where demand is: P = 6 - Q and supply is S: P = Q. 1. Equilibrium quantity Qe is Total surplus TS is (do not forget to account for the subsidy expenditure SE) Construct a budget neutral subsidy in the above market.
Explain the government uses policies like student loans and free trade to influence the economy's growth rate.
Explain how much pollution reduction should Appalachian Coal Mining undertake.
The manager of a corporate division faces possibility of an audit each year. She prefers to spend time preparing if she will be audited;
The U.S. government spends over $15.8 billion on its Food Stamp Program to provide millions of Americans with the means to purchase food.
describing market trends with disney theme parks also supply and demand analysis whereas impact of government regulations.
Under which circumstances is it best for a speculator seeking a capital gain to purchase bonds and If the market interest rates on other similar bonds decreases, you can be sure that?
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