Answered: What will happen to a nation's economy…

What will happen to a nation's economy or open market when there is a large new oil reserve has been discovered in that country?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Explain how the pandemic impacts on GDP, trade, income, unemployment rate, and welfare of a country…

A: The final products and services generated in an economy over a specific time period are referred to…

Q: Why does the United States not have an absolute in coffee? Which country is leading in producing…

A: Absolute advantage: A nation has an outright bit of leeway in delivering a decent on the off chance…

Q: If bribery is common in a particular country, what effect will it have on the nations economy and…

A: Bribery: It means the act of offering money or any valuable thing for persuading them to do…

Q: Why would U.S. companies consider moving production outside of our country?

A: There are many reasons for moving the production outside of the U.S. one of the main reason is the…

Q: What criteria define India as an emerging market? (250 WORDS)

A: Government and central banks are important for the economy. Some countries have certain resources in…

Q: Would tariffs on imported wine be a price floor?

A: Imports are restricted via tariffs. Simply expressed, they raise the price of imported products and…

Q: Need correct answer. what are the basic tenets of Saudi Arabia's foreign policy ?

A: Introduction Foreign policy decisions in Saudi Arabia are made in secret by a small group with no…

Q: Find an example where an International Risk is realized. Describe what happened, how the issue was…

A: Market risk basically refers to the possibility of losing money as a result of events affecting a…

Q: How has the advent of containerized shipping changed world economics?

A: Containerisation refers to a process of freight transport. This improved means of trade was…

Q: In your own words, Does Globaloney exist?

A: The depiction of growth in the interdependence of cultures, economies, and populations of the world…

Q: The president discusses the threat posed by Syria to the United States. True or false

A: Due to its support for terrorism and terrorist organizations, Syria has been included on the U.S.…

Q: advantages and disadvantages of de-globalisation

A: Deglobalization or deglobalisation is that the method of decreasing interdependency and integration…

Q: If the external value of its currency decreases in a country, what does it affect? a) Volume of…

A: The process by which commodities and services are traded between nations is referred to as…

Q: Discuss the impact of the lockdown in China and the war in Ukraine on the global economy

A: SUMMARY- China's retail and modern creation dropped strongly in April, as lockdowns in the nation…

Q: Question 21 Suppose supply is given by P = 2Q and demand is given by P = 1000 - 2Q. What will happen…

A: Equilibrium is achieved at the output level where Qs equals Qd.

Q: what is the most effective way to solve the food crisis for the health of future generations?

A: Food Crisis: Food crisis refers to the situation in which availability of food declines drastically…

Q: If the world price of a good is lower than its domestic equilibrium price, the country will:

A: when the domestic price of the good is higher than world price, opening of free trade will result in…

Q: What would your advise be to a country that struck a resource lottery? How would you want them to…

A: Natural resource economics studies the provision, demand, and allocation of natural resources round…

Q: Countries with the highest ratios of trade to GDP, calculated as (imports + exports)/2, tend to…

A: b Highest gains from trade Trade-to-GDP ratio is refer to the indicator in the relative…

Q: From your perspective, what are the current shifts in global stratification? How does this affect…

A: The objective of the question is to understand the current shifts in global stratification and how…

Q: What are the “Country Factors” critical to attracting FDI to a host country

A: FDI : When a company intends to expand its operations, it acquires substantial stakes in foreign…

Q: Discuss why price levels are on average lower in emerging markets than in industrialised economies.

A: The nations around the globe are involved in various economic, and financial activities. The…

Q: What strategies is Boeing using to recover its reputation as it continues with globalizing its…

A: Globalizing is done to expand the business and allow it to enter new markets in other parts of the…

Q: C

A: Covert Operation or action is defined as an activity or activities of the U.S Government to create…

Q: Risk faced by the world economy as a result of Russia-Ukraine war

A: The world economy may be a collection of nations from everywhere the globe that are linked by…

Q: Compare the advantages and disadvantages of various modes of entering foreign markets.

A: When a domestic organization wishes to do foreign business, the best form of entry must be…

Q: Can you please give me a plagiarism free solution. What is the pro and conc of an open economy.

A: An open economy is a type of economy that trades products, services and financial assets with other…

Q: Identify and

A: The foreign trade market is a worldwide decentralized or over-the-counter market for the exchanging…

Q: Barriers to free trade could create a lack of confidence in the market? True or False

A: Trade barriers, like tariffs, are demonstrated to cause more economic harm than benefit; they raise…

Q: Should a global company pull out of, or avoid investing in, a country well known for human rights…

A: Human right abusement is the illegal practice according to the international law of justice, there…

Q: Why do firms from emerging economies often pay higher premiums for targets in developed

A: An example of such a system is a developing country's economy that is becoming increasingly…

Q: What can be worth more or less in international markets depending on how trustworthy the government…

A: An international market defines the global arena in which goods, services, currencies, and assets…

Q: Suppose that a vaccine manufacturing company owned entirely by U.S. citizens opens a new facility in…

A: a)Foreign direct investment. b)Canada GDP would increase and U.S GDP would be unaffected.

Q: You are an IMF official going to a country whose export earnings are not able to pay for imports.…

A: Import of goods and services to an economy from the rest of the world leads to outflow of funds from…

Question

What will happen to a nation's economy or open market when there is a large new oil reserve has been discovered in that country?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Renewable And Exhaustible Natural Resources

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

To reduce economic exposure, should you REDUCE or INCREASE the amount of production in a location where the currency is appreciating?
How has passenger travel been affected in Oman?
What led to the rise of japan's economy
Discuss why price levels are on average lower in emerging markets than in industrialised economies.
How do many economists feel about protecting infant industries? Question 30 options: Protection may not always be necessary for infant industries, but it has proven to be useful in most cases. Protection is not necessary for an industry to grow. Protection is necessary because if young industries are not protected, they may suffer losses. Protection is necessary in order for young industries to compete against foreign companies.
Is China in the process of becoming the next global threat to U.S.? Why or why not?
Briefly explain why the law of one price does not hold closely for most products that are traded internationally.
What changes could be made to better the open markets operations?
If the United States has been selling more goods in the international market than it has been buying, this could be for all the following reasons except: foreign goods are often much cheaper The value of the U.S. dollar has fallen substantially The quality of foreign products is similar to that of U.S. products The values of foreign currencies are rising relative to that of the U.S. dollar Elroy Hatchard is the sole proprietor of a gift shop in a small shopping center. Because he is a sole proprietor, Elroy’s profit from the business is: Totally tax-free Taxed as personal income Not subject to state or local taxes Taxed only when it is distributed to investor All of the following are normally considered advantages of the corporate form of business organization except: Unlimited liability Perpetual life Ease of ownership change More money for investment The heavy influence of such federal agencies as the Federal Trade Commission, the Securities and…
You're the CEO of a small company traveling to another country (assume a country of your choice) to complete a business deal with a foreign company. Your plane landed there on time, you're feeling fine, and everything seems to be going well. The cab driver, who doesn't speak much English, understood where you needed to go and started driving. He starts to listen to a Justin Bieber song and asks you in broken English what type of music you like. As your cab enters the hotel, you notice a McDonald's restaurant across the street with familiar golden arches. You check-in with your credit card, call your spouse from your iPhone and exchange some dollars at the money exchange place at the lobby of the hotel. You then get some take-out food from the McDonald's since you'll get plenty of opportunities to dine in local restaurants later on. When returning to your hotel room, you wonder why the instructor at the culture training class asked you to be careful about cultural differences when…
A small Canadian firm that has developed some valuable new medical products using its unique biotechnology know-how is trying to decide how best to serve the European Union. Its choices are given below. The cost of investment in manufacturing facilities will be a major one for the Canadian firm, but it is not outside its reach. If these are the firm’s only options, which one would you advise it to choose? Why? Manufacture the product at home and let foreign sales agents handle marketing. Manufacture the products at home and set up a wholly owned subsidiary in Europe to handle marketing. Enter into a strategic alliance with a large European pharmaceutical firm. The product would be manufactured in Europe by the 50–50 joint venture and marketed by the European firm. please help with this discussion post
What could have been a possible solution to the Soviet oil drilling problem?