Economic factors in the U.S. include the following:

• The US economy contracted by 0.2% in the second quarter (inflation adjusted) in 2022 - the second quarter of negative growth
• Inflation for all goods (except food and energy) grew 4.8% per annum during the second quarter 2022.
• Consumer confidence in July fell again
• Brent crude closed over $105 per barrel, and
• Wages rose 6.7% in June 2022

Listening to the pundits, the economy is doing great - or is in great peril.Please provide an essay that uses the above information, the potential ties between these pieces of information, as well as knowledge gained from the course concerning GDP growth and inflation, and other relevant factors, to assess the future of the US economy during the next six months.

Question 2

Retail gasoline is often sold at convenience stores, whether in large cities or small towns. In small towns there may be only one place to buy gasoline, while in a large city there may be a several places to buy gasoline within a several block radius.

2. What market structure best describes the gasoline market (e.g., perfectly competitive, imperfectly competitive, oligopoly, or monopoly) in a small town and then in a city.Explain why this is the case, based on the characteristics.
4. Based on the market characteristics, and other relevant factors, what are the potential differences in profitability across these two markets.

This is an opportunity to showcase one's economic knowledge and ability to assess markets. To support answers with economic knowledge and assessment.

Question 3

In an Energy Economics class discussions about crude oil markets, they've developed a market model to:

2. explain OPEC's ability to influence the market;
4. the potential impact of spare capacity on market responsiveness; and
6. the impact of current price on future supply.

For each one of these, to develop a short essay, using economic concepts, ideas and appropriate models that explains the potential importance of each factor on today's oil market.

Answer rating: 100% (QA)

Answer Assessment of the Future of the US Economy The economic indicators provided paint a nuanced picture of the current state of the US economy and hint at potential challenges and opportunities in ... View the full answer