Business, 16.11.2020 17:20 lexis1446

A positive oil shock: Suppose scientists discover a new way to extract oil from deposits that were previously thought to be unrecoverable. The extra supply of oil leads oil prices to decline. Explain the effect on wages, the employment-population ratio, and unemployment– all for the overall economy.

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The impact of decline in oil prices to the overall economy with regard to wages, employment and unemployment is given below.

Explanation:

Oil is used by many firms, some of which use it for production in which case the oil is an input in their related costs while others use it indirectly such as in running of transportation.

When the oil prices decreases it will result in rise in demand for oil by these firms, as they can utilise oil for further production (for direct use) or purchasing & running transportation to be use in their business. This will result in more work and the demand for labour will increase which will cause the wage rate to increase, employment-population ratio to increase and the unemployment to decrease.

Answer from: Quest

typically a loft will include modern kitchen and bathrooms, this increases the price tag. lofts also have a good amount of open space, this requires more heating and electricity. lofts are also in older buildings, this means that maintaining the location increases the bill. keep in mind this is without talking about the high state and property taxes.

i hope this you! : )

Answer from: Quest

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

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A positive oil shock: Suppose scientists discover a new way to extract oil from deposits that were p...

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