Discuss how rising oil price might affect the macroeconomic performance of an economy (25 marks) In economies‚ oil is a highly desired resource that plays a key role in the production of goods and services and in the provision of energy‚ meaning that even small fluctuations in its price can lead to supply side shocks for nations as well as lower demand for imports as a component of aggregate demand. A supply side shock is a shock that will shift the Aggregate supply curve and in the case of oil will
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How does the environment a bridge is in effect how the bridge will withstand‚ even with the different pressures it faces everyday? Which environment is the best and safest place for a certain bridge? The answers to these questions involves researching different topics such as bridge types and different structures. It is important to research about different environments so the environment is simulated correctly. Environments would include a mountainous/rocky terrain‚ grasslands‚ ocean/river‚
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For drilling in the USA Drilling in the United States is the best thing that we could do for our economy and for everyone as a nation. There are a lot of factors as to why we should be creating jobs‚ making money for the United States and protecting wild life and our oceans through land drilling. Drilling in the United States will benefit us in many ways. According‚ to Portal Seven‚ our current unemployment rate under President Obama is at 9.4%; that’s the U-6 report. Drilling in the United
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The Rise and fall of Oil and Gas Prices 12/13/09 The U.S Benchmark sets the oil prices depending on the supply and demand. Gas and oil prices are rising and falling so much because of the number of investors‚ and the demand among the American people. The U.S. Benchmark sets the oil prices according to the supply and demand for oil‚ in a little town call Cushing‚ Oklahoma. The demand for oil this year had plunged twenty [Express numbers higher than nine in digits (when not
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Drilling rig A drilling rig is a machine which creates holes in the ground. Drilling rigs can be massive structures housing equipment used to drill water wells‚ oil wells‚ or natural gas extraction wells‚ or they can be small enough to be moved manually by one person. They sample sub-surface mineral deposits‚ test rock‚ soil and groundwater physical properties‚ and also can be used to install sub-surface fabrications‚ such as underground utilities‚ instrumentation‚ tunnels or wells. Drilling rigs
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The Extreme Inequality is Damaging to the Economy In Jonathan Rauch’s article called The Wealth Divide Between Rich and Poor Harms the US Economy he talks about how the large gap between the upper class and the lower and middle classes is‚ contrariwise to past beliefs‚ actually quite harmful to the economy. So much so that it has and can causes depressions. Many progressives are beginning to believe that inequality has already reached damaging levels‚ which has not been the mainstream economic consensus
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Lower Oil Prices - Not a Good Sign! Posted by Gail the Actuary on July 5‚ 2012 - 9:58am Topic: Economics/Finance Tags: debt default‚ default‚ high oil price‚ low oil price‚ oil prices‚ recession [list all tags] Are lower oil prices good news? Not really‚ if it means the world is sinking into recession. We know from recent past experience and from common sense that higher oil prices are a drag on oil importing economies‚ because if more $$$ are spent on the same amount of oil‚ there is less to
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How shoplifting affects prices in the store Do you hate the high prices in the store? It is because of all of the shoplifting that happens on a daily bases. Prices keep going up every year in stores. Part of the reason is shoplifting There are three main forms that affect us. The first thing is that the prices have increased in recent years due to the stores having to cover the cost of shoplifting. The second one is that shoplifting effects the entire community in many different ways. The third
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CASE STUDY: AFTERMATH OF OIL PRICE ROLL BACK INTRODUCTION OF THE PROBLEM The Department of Energy (DOE) and Department of Trade Industry (DTI) had a recent investigation regarding the oil price in our market. They found out that the oil price is in need to be lowered in accordance in the changes in the International Market of Oil. The investigation shows that the price of oil is higher than it should be. The BIG 3 key players in our oil industry namely‚ Petron‚ Shell and Caltex as a response
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Looking for Alaska” by John Green “Looking for Alaska” by John Green is about a boy named Miles who is sent to boarding school. He meets 2 very important people there‚ “The Colonial” and Alaska. They are all best friends and do things like pull pranks‚ get drunk‚ and smoke cigarettes. Miles falls in love with Alaska but Alaska doesn’t see him that way until the night before she died. She was upset and drunk and went for a drive. After that Miles and the colonial start to get consumed by their
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