You will research oil price changes and the impact on the economy. Start your research by retrieving historical data (1980-2016) on oil price and growth rate of real gross domestic product (GDP) from FRED (St. Louis Federal Reserve)\u00a0
\nUse the real GDP percentage change from the preceding period, the seasonally adjusted annual rate (A191RL1Q225SBEA), and the Global Price of West Texas Intermediate (POILWTIUSDQ).\u00a0
\nIn addition, review articles on topics related to oil prices and the impact on the economy. Analyze the data you retrieve to determine the relationship between oil price and real GDP growth rate.\u00a0
\nWrite a minimum two-page paper that will include a graph displaying information on oil price and real GDP. You can use Excel or the graphing tool available in FRED to draw your graph. In addition, you will include information concerning the following subjects:
\n\u00a0
\nBriefly explain the relationship between oil price and real GDP as displayed in your graph.\u00a0
\nWhat are demand factors that led to the reduction of oil prices in recent years?\u00a0
\nWhat are supply factors that led to the reduction?\u00a0
\nWhat do you predict will happen to oil prices in the future?\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
You will research oil price changes and the impact on the economy. Start your research by retrieving historical data (1980-2016) on oil price and growth…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-147225","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/academicwritersbay.com\/answers\/wp-json\/wp\/v2\/posts\/147225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/academicwritersbay.com\/answers\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/academicwritersbay.com\/answers\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/academicwritersbay.com\/answers\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/academicwritersbay.com\/answers\/wp-json\/wp\/v2\/comments?post=147225"}],"version-history":[{"count":0,"href":"https:\/\/academicwritersbay.com\/answers\/wp-json\/wp\/v2\/posts\/147225\/revisions"}],"wp:attachment":[{"href":"https:\/\/academicwritersbay.com\/answers\/wp-json\/wp\/v2\/media?parent=147225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/academicwritersbay.com\/answers\/wp-json\/wp\/v2\/categories?post=147225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/academicwritersbay.com\/answers\/wp-json\/wp\/v2\/tags?post=147225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}