The Economic Impact of Rising Oil Prices
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Title: The Economic Impact of Rising Oil Prices

Essay Details:

Subject: Business
Author: Betty T
Date: September 21, 2015
Level: University
Grade: B
Length: 16 / 4748

Essay text:

The impact of rising oil prices creates economic, as well as social problems. High oil prices can lead to substantial output reductions, decreasing nominal wages, increasing competitiveness in oil dependable businesses and unemployment. Getting a precise assessment of how much a country is affected and what counter measures can be implemented is of interest for both governments and individuals. Making predictions into the future is not what this paper is about. It also does not analyse in depth specific factors influencing the oil price. The strength of this paper, however, is that it tries to generalise - on a non-mathematical approach - how economies are influenced by different factors and which appropriate and corresponding counter measures can be taken...

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