some event (usually political in origin) reduces the supply of the crude oil flowing from the region, the prices of oil rises around the world. Because they think that it would be much profitable to them. But since the U.S is much affected to the inflation of the oil it is not favourable for them. U.S. firms that produce gasoline, tires, and many other products experience rising cost, and they find it less profitable to supply their output of goods and services at any given price level. The result
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per capita | $41,092 | $1,625 | Inflation | 1.2% | 9.3% | Unemployment rate | 6.0%, 1.96 million | | Population | 64.1 million | 1.25 billion | Exchange rate ( US$) | 1.57 | 0.016 | Interest rate | 0.5% | 7.75% | The economic cycle The output of an economy is the total value of the goods and services produced in that economy. The ripple effect The ripple effect, also known as the multiplier effect, is when an action in the economy causes a bigger overall effect in the economy
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Version 1 General Certificate of Education (A-level) January 2013 Economics ECON2 (Specification 2140) Unit 2: The National Economy Final Mark Scheme Mark schemes are prepared by the Principal Examiner and considered, together with the relevant questions, by a panel of subject teachers. This mark scheme includes any amendments made at the standardisation
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African nations. Rational behind such regime is that in case of small economy – if the exchange rate is market determined – the sudden influx or out flux of even relatively small amount of foreign capital will have large impact on exchange rate and cause instability to its economy. Notable exception is China which despite being large economy has its currency pegged to US dollar. 2) FLOATING (OR FREE) EXCHANGE RATE: Bigger and developed economies like US, UK, Japan etc generally let market determine
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Economic Freedom Score of 55.6. The labor force of Nigeria is roughly 54.2 million or 56.1 percent of the population and the unemployment rate is 8%. Nigeria has experienced strong economic growth averaging 6.5 percent within the past ten years and inflation has decreased in recent years to the rate of 8 percent. It is my goal to explore unemployment in Nigeria, the reason for its strong economic growth as well as the improvement and decline in the ten economic freedoms. The Nigerian economy is very
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when the level of economic activity slows down. The Business Cycle The Four Stages of the Business Cycle are: Boom: A period of very fast economic growth, with rising incomes and profits. Inflation will rise and there will be shortages of key skilled worker, leading to high wage increases. High inflation will make the country less competitive, and business confidence will eventually fall due to rising cost. Interest rates are increased to slow down growth. Recession/Downturn: Demand stats
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Milton Friedman Jordan Locke Economics 10 April, 2013 Jordan C. Locke 10 April, 2013 Period: 2 Ms. House Milton Friedman Milton Friedman once said, "If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand”. Due to Friedman's many accomplishments and published works in the Economics field, I felt that he would be a great economist to write about. Milton Friedman was born in 1912, to two Jewish immigrant parents that lived
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Kiran Raju Professor Hays RHET 105 February 28, 2016 An Annotated Bibliography: “The benefits of a college degree does not outweigh the cost of it” Abel, Jaison R., and Richard Deitz. "Do The Benefits Of College Still Outweigh The Costs?." Current Issues In Economics & Finance 20.3 (2014): 1-12. Academic Search Complete. Web. 6 Mar. 2016. People who graduated with a college degree still questions whether college was a good investment for them. “Do the Benefits of College Still Outweigh
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Mankiw Macroeconomics Answers Chapter 1 1. An increase in the price of steel should lead to an inward shift of the supply curve for automobiles due to the high cost of steel in the production process. The new equilibrium will have a higher price and a lower quantity of cars. The price of steel is the exogenous variable in this question, while the price and quantity of automobiles are the endogenous variables. 2. Consumers often purchase a computer with a specific functional use in mind
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to the United Kingdom. Mesa invoices the exports in pounds and converts the pounds to dollars when they are received. The British demand for these frames is positively related to economic conditions in the United Kingdom. Assume that British inflation and interest rates are similar to the rates in the U.S. Mesa believes that the U.S. balance-of-trade deficit from trade between the U.S. and the United Kingdom will adjust to changing prices between the two countries, while capital flows will adjust
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