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Lecture 2: Basic Definitions
The Economist (09//08)
- OIL prices hit a ten-year high of nearly $35 a barrel in the run-up to an OPEC meeting which is likely to agree on increased production quotas. However, with American oil stocks at a 24-year low and a booming world economy driving up demand, prices may stay high even if output rises.
- GERMAN UNEMPLOYMENT fell to 9.5%, its lowest rate for five years. Germany's economic recovery has been boosted by booming exports, partly thanks to the weak euro. Europe's single currency again hit record lows against both the dollar and the yen.