Need answers for Macroeconomic

Jul 12th, 2015
Business Finance
Price: $10 USD

Question description

Demand and Supply in the Oil Market

A major determent of output, inflation and GDP is the price of oil. Conduct some research on the factors that you feel affects both the supply of oil on the world oil market and affect the demand for oil on the world oil market. 

  • Will OPEC countries increase or decrease their oil output?
  • Will economic slowdown in the E.U. increase or reduce demand for the world's supply of oil?
  • What about China - will they increase or decrease demand for the world's supply of oil?
  • How will these factors shift the demand and supply curves for oil, and how will these shifts affect equilibrium price and quantity in the oil market.
  • --------------------------------------------------------------------------------------------------------------
Need 300 words

Tutor Answer

(Top Tutor) Abdul Muqeet
School: Carnegie Mellon University

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