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Does the price of oil affect the price of petrol?
Yes, petrol prices will move slightly to reflect the oil price, although in the UK the the oil cost is a very small part of the price per litre, tax and fuel duty makes up the majority of the cost. Also as petrol if produced through fractal distillation (separation of crude oil) the price of petrol is most likely to increase slightly through the price of oil.
How will future expectations will affect demand?
it will happen by price changing.
The consumers price index helps the U.S. government measure what?
inflation
How do exchange rate affect businesses?
The local economy will be higher raising on inflation and the value of currency of the price will be in intrest rate as decreasing.
What is the difference between expected inflation and inflation how does changing inflation expections affect short run philpse curve?
The first answer is self-explanatory. If consumers THINK a good will go up in price, then that good has a high expected inflation. Whether or not it actually does is it's actual inflation.This matters in the Phillips Curve mainly when dealing with businesses. Basically, if a business thinks it's costs are going to increase (inflation), it might not hire more people or might even lay people off to save money. Thus, as expected inflation rises, unemployment rises, just like the Curve says it would.
What was the price of a gallon of petrol in 1972?
In 1972, the average price of a gallon of petrol in the United States was approximately 36 cents. This figure reflects a time when fuel prices were significantly lower than today, influenced by various economic factors and the oil crisis that would later unfold in the 1970s. Adjusted for inflation, that price would be considerably higher in today's dollars.
What was the price of a gallon of petrol in Britain in 1958?
In 1958, the price of a gallon of petrol in Britain was approximately 4 shillings and 11 pence, which translates to about 24 pence in modern currency. This was a time when fuel prices were significantly lower than today, reflecting the economic conditions and oil market of the period. Adjusted for inflation, this price would be much lower than current petrol prices.
Does the price of oil affect the price of petrol?
Yes, petrol prices will move slightly to reflect the oil price, although in the UK the the oil cost is a very small part of the price per litre, tax and fuel duty makes up the majority of the cost. Also as petrol if produced through fractal distillation (separation of crude oil) the price of petrol is most likely to increase slightly through the price of oil.
How does inflation affect prices?
It causes the general price of products to slowly rise over time.
How will future expectations will affect demand?
it will happen by price changing.
What was the price of petrol in the UK in 1964?
In 1964, the price of petrol in the UK was approximately 4 shillings per gallon, which is equivalent to about 20 pence in today's currency. This price reflects the economic conditions of the time, including the regulatory environment and fuel taxation. Over the decades, petrol prices have increased significantly due to various factors including inflation, changes in oil prices, and taxation policies.
What was the cost of living in 1975 in the UK?
interest rates 11.25% inflation was 24.02% petrol per gallon was 0.72 p average price of house was 11, 787 £
What was the petrol price in1965?
In 1965, the average price of petrol in the United States was around 30 cents per gallon. Prices varied by location and brand, but this figure provides a general idea of fuel costs during that time. Adjusted for inflation, this amount would be significantly lower in today's currency.
Are petrol stations allowed to change the petrol price to the old price if old petrol is in the petrol tank?
I don't know who asked that question, but he must be f***ed in the brain
What was the price of petrol in South Africa in 1982?
In 1982, the price of petrol in South Africa was approximately 1.21 South African Rand (ZAR) per liter. This price reflects the economic conditions and fuel policies of the time, which were influenced by various factors, including international oil prices and local market dynamics. Adjusting for inflation, this amount would be significantly lower in today's terms.
The consumers price index helps the U.S. government measure what?
inflation
How do exchange rate affect businesses?
The local economy will be higher raising on inflation and the value of currency of the price will be in intrest rate as decreasing.
