Using the FRED database, create a graph of the price of crude oil since 1987 based on
Question:
Using the FRED database, create a graph of the price of crude oil since 1987 based on “Crude Oil Brent—Europe.”
(a) Display this graph.
(b) How much more expensive (in nominal terms) is oil today than it was in the 1990s? (A rough average for the earlier period is fine.)
(c) What economic factors might explain the general changes that you see in oil prices?
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a b In the 1990s the average price of Brent Crude x Europe ...View the full answer
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