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Essay / Research Paper Abstract
This 5 page paper reports four different articles on four different topics. Articles reported discuss: Crude Oil Prices; a decline in Consumer Spending; whether or not Microsoft is a monopoly; and changes in the manufacturing labor force. All articles are from 2004. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: MM12_PG4econ.rtf
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Unformatted sample text from the term paper:
have skyrocketed. On Tuesday, August 3, the price for crude oil reached $44.15 a barrel on the New York Mercantile Exchange (Peltz, 2004). At the same time, the federal government
reported that in California, the price for a gallon of gasoline dropped by 3.4 cents to $2.128 (Peltz, 2004). That was the average price, some service stations were charging less
than $2.00 per gallon (Peltz, 2004). One reason for the drop in prices was less demand - motorists are just not driving as much (Peltz, 2004). When gasoline prices reached
over $2.32 per gallon in California, motorists in that state began conserving (Peltz, 2004). At the same time, refiners had stepped up production to an average of 97 percent production
capacity to meet expected demands (Peltz, 2004). Refiners seldom produce at these capacities. Peltz reported that second-quarter profits for ChevronTexaco Corp. doubled over the same quarter a year ago,
reaching $4.13 billion (2004). Peltz did not comment on the fact that while oil companies claimed prices to the consumer were higher because their costs were higher, their profits soared,
which is a direct contradiction to their excuse for raising consumer prices. Instead, Peltz stated: "Oil prices have soared this year because of strong demand worldwide, tight supplies and fears
that oil flows will be interrupted" (2004). Even with the terrorist attacks on oil refineries in Saudi Arabia and pipelines being sabotaged in Iraq (Peltz, 2004), oil companies continue to
earn record profits while the consumer suffers. 2. Consumer Behavior: Consumer spending plummets in June by Jeannine Aversa. Consumer spending has been increasing but in June 2004, spending dropped
by 0.7 percent from spending in May when spending increased by 1 percent, the largest decrease nearly three years (Aversa, 2004). This marks a dramatic change in consumer behavior. It
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