Skip to main content

Home/ IB Economics SL JG/ Group items tagged wall street

Rss Feed Group items tagged

Liselotte r

The Politics and Economics of Occupy Wall Street - 0 views

  •  
    This article talks of the Occupy Wall Street movement and its overall economic and political impacts on the society itself. For their cause they closed down a shipping port in Portland to try and cut corporate costs. The movements followers believe that these corporations are largely responsible for the current economic crisis faced by the US today. The political impact of this movement was a statement made by Republican pollster Frank Luntz who says he's "scared of this anti-Wall Street effort. I'm frightened to death." Luntz said he believed the movement is "having an impact on what the American people think of capitalism."
Jan d

Record U.K. Oil & Gas Spend - 2 views

  •  
    This article is essentially connected to aggregate demand (investments), but the following part can be perfectly analyzed with the this week's topic, aggregate supply: "The investment will also help U.K. energy security by reducing hydrocarbon imports at a time of higher international oil and gas prices. "Too often we've been seen as part of the problem, rather than part of the solution because production output had fallen. But we're stopping the decline and increasing output and that will have a more positive impact on the U.K. economy," Mr. Tholen told The Wall Street Journal. The higher investment in new projects and redevelopment of older fields will help bring another 500,000 barrels of oil equivalent a day onstream by 2017, taking output up to around 2 million barrels of oil and gas a day by 2017 or earlier. The higher investment in new projects and redevelopment of older fields will help bring another 500,000 barrels of oil equivalent a day onstream by 2017, taking output up to around 2 million barrels of oil and gas a day by 2017 or earlier." High international oil and gas prices mean higher average costs of production - change in the costs of raw materials, because oil and gas are widely used in most production processes. This is the reason for the shift of the SRAS inwards. However, higher price level means that the oil production and oil-transforming industries will increase their output. This is also great for the sake of price of imports, which are relatively too high, allowing domestic industries to decrease their average costs of production, meaning that SRAS will increase. So we should consider effects of both aspects and add them up in order to get a real picture (overall effect of current oil and gas prices). Investments are shifting the LRAS curve to the right, because there are likely to be improvements in the quality of the factors of production (technological advancements, discovery of new resources and re-establishing the past (oil) fields,
1 - 2 of 2
Showing 20 items per page