Technology During The Twentieth Century - 1076 Words

Technology had a great influence on literature in the early twentieth century. This was the era of Women’s Suffrage Movement and the â€Å"Great War† both of which had an impact on literature. The Women’s Movement challenged long held ideals that men were superior in both mind and body, but more importantly, activists used technology to advance their cause. Five thousand women marched on Washington in order to gain media attention and support, and this coverage eventually led to the ratification of the Nineteenth Amendment (Belasco and Johnson 489). World War I saw the use of modern warfare including chemical weapons and airplanes, tanks, and the machine gun. This technology made war more horrible and more complex than previous wars. This was also the time of jazz music, the flapper, and full-length talking movies (498-499). Moreover, mass-market magazines and Book-of-the-Month clubs along with the increase students pursuing higher education meant a higher demand for novels (500, 502). All of these advances created the age of modernism. The modernism movement embraced painting, music, literature, and challenged previous styles and traditions. Influenced by changes brought on by the technology and the destruction of the â€Å"Great War,† the modernist writer questioned authority and established ideas. They broke away from the way things were normally done. They examined closely the inner-self along with the greater whole and sought understand how conditions, especiallyShow MoreRelatedThesis on the First World War1510 Words   |  6 PagesThesis: The First World War stimulated the greatest changes in warfare because it brought about new technology and industry development, advancement in science, and improved infrastructure and communication; essentially the First World War combined the legacies of the French and Industrial Revolutions and set the pattern for twentieth century warfare. ii. The industrialization in Europe and the new technology escalated the power of the WWI as compared to the other wars fough t across the world there beforeRead MoreDowntown Abbey: Victorian Values1119 Words   |  5 PagesDownton Abbey shows the need to leave the Victorian era behind to usher in twentieth century values because women wanted to choose their own life paths rather than following tradition. However, numerous people associated with Downton believed that maintaining tradition had more of an importance than moving on with the twentieth century. During the first season of Downton Abbey, there were many instances where the viewer could see the conflict between characters who wanted the Victorian period valuesRead MoreThe Role of Technology Advancements in Society837 Words   |  3 PagesTechnology advancements have played an enormous role in society. One example of technology that has been used universal is the computer. The computer has unquestionably impacted popular culture in America. After the Industrial Revolution, the computer age developed. The Computer Age (also known as the Informatio n Age) was a period in human history where new forms of research, work and communication developed in the United States. From the beginning of the decade, to the end, advancements in the computerRead MoreViolence that Took Place in the Twentieth Century905 Words   |  4 PagesIn the twentieth century humanity experienced violence on a wider scale than ever before. This violence took the name of war, revolution, genocide, as well as various other attempts to provide an explanation for the amount of human sacrifice and loss. Through these events billions of people came face to face with experiences that challenged their concept of humanity. Humanity is a seemingly well founded idea that humans were innately separate from beasts and animals; this idea is required by a centralRead MoreBooks Are Humanity in Print Essay1364 Words   |  6 Pagesworks consist of glorified knights, the chivalric code, and a greedy, materialistic court; and, modern literary classics depict worlds of which the human race is ruled by technology. From ancient Greek mythology to the next big literary classic, the era in which a work is written reflects the period in which it was penned. 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Even if we ignoreRead MoreWorld War One And End Of The Twentieth Century1330 Words   |  6 Pagesthe feel that it is going to be an excellent read, the book opens with short observations from the twelve people look at the Twentieth Century. Each give there view on the century that was, and how their views or lives have been influenced with the circumstances that have been handed out over this period. This contracts between wars and massacres and goes forward to technology and science. †¢ This book begins with World War One and ends with the diminish of communism; this introduction gives a briefRead MoreCanadian Technology: The Three Men Who Shaped It All Essay examples597 Words   |  3 Pages Robert Samuel McLaughlin gave a great deal of his time contributing to the growth of technology by founding McLaughlin Carriage Company Limited. Born in Cavan Township, Upper Canada on the sixteenth of November 1836 McLaughlin started his journey of creating his own company.18 At the prime age of forty-eight, McLaughlin built Oshawa Carriage Works.19 It was a three story brick factory which shortly became known as McLaughlin Carriage.20 The company continued to grow impressively through outRead MoreThe Culture of Control1316 Words   |  6 Pagescurrent culture of crime in the U.S. Crime control changes of the last twenty years or so were determined not just criminological consideration but also by historical forces that transformed social and economic life in the second half of the twentieth century (Garland, 2001, pg 75). Four our purposes it is useful to distinguish two sets of transformative forces (Garland, 2001, pg 75). These purposes include the social and economic, and culture changes the distinctiveness of late modernity that isRead MoreThe Great Gatsby By F. Scott Fitzgerald1651 Words   |  7 Pagesearly 20th centuries. World War 1 is often seen as a starting event of Modernism. The devastation of Western Civilization in the great war accelerated and strengthened Modernist thinking. Modernism was the most influential literary movement in England and America during the first half of the twentieth century. It had works such as The Waste Land(1922), by T. S. Eliot, Ulysses (1922), by James Joyce. Also included The Great Gatsby (1925), by F. Scott Fitzgerald. Modernism started during the opening

Essay Draft Free Essays

string(93) " age o f Columbus, the rational way of thinking included the belief that the world was flat\." What is needed is essentially a gap, to show that aspects of r sectional thinking can coincide with faith. So the question must be asked; can faith and reason cookie SST? It is absolutely possible for rational thinking to be a part of faith, or more particularly religious s faith. The only point in which faith is irrational, is the initial leap Of faith one takes in order to make the decision. We will write a custom essay sample on Essay Draft or any similar topic only for you Order Now Besides this initial jump of blind faith, where one must fully trust a h Geiger power without complete understanding, every decision after this seemingly irrational I one, has the full capacity for rational thought. Often times thoughts, beliefs, and actions are often labeled as rational or irritate IANAL, but what defines something as rational? Rationality is defined as a pursuit of NAS were through the use of logical discourse and objective criteria. What comes out of this pursuit is w hat humans tend to think is rational. Generally speaking, rationality is what is â€Å"best on the table†, it s purpose is to provide or attempt to provide, answers to questions based on factual evidence e and through the Kim 2 use of logical discourse and scientific advancements. With scientific advances, what is considered rational and irrational shifts as well. It is through new, changing eve dance that alters rationality. This is why rationality changes throughout the course of time, it is because new evidence is provided therefore changing the belief of what is considered ratio anal and what is considered to be irrational. Through the course of increased logical discourse and time, rationality and what one deems something as rational will continually evolve. Faith on the other hand, is belief that provides the best possible answers bas deed on scriptures and attempts to address the questions that science cannot. It’s there e to provide the questions such as, â€Å"Why am I here? Or â€Å"What’s my purpose on this earth? ‘. The is is the reason for why many accept religion and faith into their lives. Many times humans De sire for purpose and reason for their lives. The theory of Existentialism and the brilliant minds of Albert Campus and Jean Paul State, articulate that humans possess an innate desire to create purpos e in ones life. This wanting for purpose is satisfied through religion. Ultimately science awns errs the how, and faith answers the why it provides the purpose of everything in life, and the ever y essence of humans and their ultimate purpose. It is is evident that science deems that faith and reason are on the same page and essentially can be compared. However it is argued that the faith system and t he pursuit of rational answers to the universe are not on the same page. In fact, Francis Cool lines, director of the Human Genome Project states, â€Å"God gave us an opportunity through science to understand the natural world, but there will never be a scientific proof of God’s existence† (Co Loins). It illuminates fact that science is there not to contradict religion, but is there for the purpose of further understanding the world we live in. It’s purpose is not to disprove relic ion, but instead to Kim 3 deepen our knowledge of the what we have already, the earth. It further sup rots the point that rational thinking and religion belong in two different domains and shows that the two are essentially two different scopes of looking at the world, from a spiritual stand point and both a rational standpoint. Furthermore Stephen Jay Gould, a famous evolutionary bi eulogist suggests of the existence of impoverishing magisterial (Gould). Gold’s theory also know n as (NOAA) state that science and faith have separate teaching domains. This dissonance means that the findings and claims of both domain do not have to contradict each other. Pro egress in science does not have to disprove the teachings of religion. In the same way religion d goes not have to control every aspect of one’s life. It demonstrates that besides the initial leap of faith, what follows after has the potential to be rational as the existence of faith and ratio anally relate to two different domains. This is what it means to coexist separately. Therefore the p regress of rational thinking and science should not interfere with faith and vice versa. Essentially these two efferent domains are two different ways to come closer to, or attaining the Try HTH in their own respective fields. The assertion that faith does not cloud or bleed into the coo rise of logical thinking is made and emphasized quite heavily. In essence, the ideology that r elisions belief hinders one from rational thinking is disproved as it’s heavily asserted that the e two belong in very different ballparks. Francis Collins, also indirectly refers to this theory of Gold’s magisterial with the statement, â€Å"l was in a very reductionism frame of mind. The tats often what science imposes upon your thought process, and it’s a good thing when you a ply it to the natural world. But I sought to apply it to everything else. Obviously the spiritual world is another entity’. Collins admits that despite his numerous amount of years of science b 10th at Yale and the Human Genome Project, that the two domains of science and religion were is imply not meant to Kim 4 compliment or contradict each other. Ultimately, one can simply both be a sic intestine and a believer. Furthermore, it shows that both domains are indeed there and the d main of faith does not prevent progress through rational thinking. Therefore, when one claims t o believe, rational hinging is still present, because of the simple fact that the two belong in differ rent domains or region of thinking. There are of course the rare occasions when faith and reason do come together ere. This does not mean, however, that religion disproves rational thinking. Before the age o f Columbus, the rational way of thinking included the belief that the world was flat. You read "Essay Draft" in category "Essay examples" A very pop alular and highly controversial idea at the time, both rationality and religion produced the Sam e conclusion, that the world indeed was flat. This shows that despite the defined boundaries bet when reason and oath, that both can also hover on the same ideals. In the example of the world d being flat, both science and religion conformed to rational thinking that the world was flat (re member that rationality is what the best possible answer is based on the facts provided). D goes this not show that religion does not devalue rational thinking? It shows that religion does no t shun rational thinking, but rather is also another way of attaining the Truth. Thomas Aquinas s argues that faith and reason are just rather two methods but are related in that nature is sees initially God and the study of nature is to study God (Planting). Another instance where reason an d faith collide, is the theory of egocentricity. Rational thought at the time supported the hellion enteric theory based on the given evidence of past scholars. The institution who heavily supported this theory was none other than the Catholic Church. This can be seen as an act of irrational y that the Church did not base their decisions on the given evidences. However, this is not true as the works of supporters of the heliocentric theory remained hidden and censored, until we II after their own Kim 5 time. Once these works were discovered rationality would be altered as people now see that the Sun is the center and not the earth based on the provided evidence. It also go sees to show that rationality changes over time and ultimately takes time to change as evidence grows. Religion is seen as a concoction filled with emotion, and what better way to RI d oneself from rational thinking than to incorporate emotions? When one’s emotions start to take control, one’s thoughts and actions often become irrational. This being said, emotion and SE mentality often follow religion and faith, however even bigger than emotion, is action. Actions are a crucial part n almost every religion or philosophy. Without action nothing is achieved. As actions play a pivotal role in religion, emotions are irrelevant and can even be discouraged I n faith. Many times religion is institutionalized due to the supposed use of emotions and how h evilly religion relies on emotion. However this is not true at all. The basis Of religion is not s lowly based on emotions, but rather the actions and the strength or intimacy of faith that the individual carries. This goes to say however, that emotions aren’t completely shunned by religion n, some are encouraged while others are discouraged completely. In Christianity the Ten Commandments that God provides humans with a set of guidelines that provided to the Israeli test the knowledge of certain actions and their moral values. It leaves out any aspect of emotion and are essentially just rules of what to do and what not to do. The word â€Å"do† immediately incisor orates actions and certain acts but not emotions. Through an Eastern scope, the belief of actions and karma are a prime example. Furthermore religion goes about to shun certain emotions the at often bring about negative actions from humans through the verse â€Å"A fool gives full vent to his s rid, but a wise man quietly holds it back† (Proverbs 29:1 1). This popular verse depicts the rest train upon which Christianity places upon an individual. It shuns the expression of one’s emotion NSA especially Kim 6 anger. Such restrictions on emotions are also present in Eastern philosophies and religions. In the religion of Hinduism, the discharge of emotions is evident. The fundamentals of Hinduism state that emotions hinder one from reaching the point of enlightenment. Further more emotions produce certain detrimental desires within an individual that prevents the par TTY from seeing the Truth; that emotions and personal desires are meaningless. Yes, religion does shun some emotions but not all emotions. Emotions such a s happiness and euphoria are encouraged. But most if not all religions possess a unifying element of love and compassion (Jesus in Christianity, Shattered in Buddhism etc. ). Such a cone action begs to answer the question of whether or not such feelings incite irrational thin king, or if they re even emotions at all. Love is characterized by physical objects and actions. In a relic souse aspect the acts of Jesus Christ symbolize God’s supposed love. If love is characterized by such acts, its more than safe to say that love is indeed an action and not an emotion. Love s shown through actions that symbolize the level of love that one possesses. But the deepest el veil of love is through sacrifice: and sacrifice is an action, therefore linking the overseen chaw in between love and actions. Through sacrifice one learns the value of love, and the greater the e sacrifice the greater strength Of love. However many believe that love is irrational, and that t is perfectly true, love itself is irrational, but the reasons why humans are rational according to social relationships s explained by Aristotle statement, â€Å"Man is by nature a social animal; an mind Vidal who is unsocial naturally and not accidentally is either beneath our notice or more the an human† (Rack). This quote shows that humans want if not need social interactions , such actions which include the essence of love. Therefore the need for love and further Soc ill interactions are justified as being rational. This justifies the rationality of why one chooses to Eve, or to embrace Kim 7 the concept of love. This unifying element of love also carries the implication t hat morally sound actions are heavily encouraged. The certain encouragement of morally sound behavior can be seen throughout all religions. The Buddhists describe this as dharma, and the Western belief perceives it as the Ten Commandments. The fact that such diverse religions c an come together on a single consensus that morally sound actions are essential to one’s faith, provokes yet another question; the question of how such a phenomena can occur. Based o n the difference of the origins of these religions, it goes about to show that religions appeal to the e common interest Of people. This however, does not explain how or why certain extremists act the way the do. In such cases religion is seen as providing actions that resort to irrational action s. First off, remember that such extremists represent only a very small number of certain religious beliefs. Secondly, the actions of such extremists are fueled by their own interpretation NSA. Therefore, if the definition of rationality is defined as the product of the pursuit of knowledge, the interpretations of certain texts is one’s own pursuit of knowledge. The late novelist and essays SST D. H. Lawrence States, â€Å"The human being is a most curious creature. † (Lawrence). The justifies Zion of such interpretations is essentially supported by this statement by Lawrence. The in trepidations of texts differ as different sects offer different answers to certain curiosities. Fur hormone, if an extremist no matter how extreme, is given the question of what is two plus two o, the answer will inevitably be four. Ultimately they would know and understand how and why two and two is four, even if they’ve never encountered the question before. They can prove t wrought the pursuit of logical thinking can they not? If they are capable of such actions it shows the at rational thinking is still present despite whatever faith they believe in. How to cite Essay Draft, Essays Essay Draft Free Essays Competitions are everywhere in our society. People compete against each other using deferent ways and effective behaviors. They stimulate people’s creativities and Innovations. We will write a custom essay sample on Essay Draft or any similar topic only for you Order Now They help people promote their maximum potentials. Athletes practice and train hard to reach their goals. Companies cooperate and create Innovative products to change the world. Cakewalk does her best to learn and Improve with Dry. Larvae’s help In order to win the national spelling bee competition while she feels incontinent competing against Dylan. However, competitions could bring up negative behaviors at the same time, depending what attitudes and behaviors people are holding In the competitions. Cheating Is s behavior when people try to win during a competition. Some people steal classical files and take advantage of others’ secrets. In the movie of Cakewalk and the Bee, a competitors mother cheats in the competition, who tries to help her son go to the next round. In summary, competitions are two- sided swords. All kinds of behaviors show up in competitions. Cooperating, cheating ND practicing are behaviors that help them to succeed in the competitions. Cooperating is one of the significant behaviors in competitions. Under the pressure of competitions, competitors spontaneously learn from each other and unite as a larger group. For example, Nikkei and Apple are two top companies at their fields. As the society becomes more digitized, they cooperate and they share technologies. As a result, a pair of Nikkei shoes with high-tech chip can directly connect to Apple devices to record data. In the movie, Cakewalk is invited to Join a Spelling Bee Club at another school. She gets a chance to learn from her friends, who are also competitors. They share experiences and strategies and play interesting games. She improves her skills in the group. At the national spelling bee competition, Cakewalk misspells a word because she does not want to upset Dylan father. But Dylan does the same thing to her. They compete fairly and they both get 25 champion words. Cooperation makes them succeed in sharing the champion. When people compete, they sometimes cooperate because it is the best way the maximize their advantages. Those people ho want to win so badly cheat. They try to take advantage of what they can get In the competition in inappropriate WAP to compete. For Instance, people use cellophane to find the answers or copy from others’ paper while taking exams. Essay Draft 1 By Philanthropically different ways and effective behaviors. They stimulate people’s creativities and innovations. They help people promote their maximum potentials. Athletes practice and train hard to reach their goals. Companies cooperate and create innovative products to change the world. Cakewalk does her best to learn and improve with Dry. Larvae’s help in order to win the national spelling bee competition while she feels unconfined competing against Dylan. However, competitions could bring up negative holding in the competitions. Cheating is s behavior when people try to win during a In the movie of Cakewalk and the Bee, a competitor’s mother cheats in the competition, Cooperating is one of the significant behaviors in competitions. Under the pressure who want to win so badly cheat. They try to take advantage of what they can get in the competition in inappropriate ways to compete. For instance, people use How to cite Essay Draft, Essays Essay Draft Free Essays Actually one didn’t even think at all. One was going by its instincts while the other was going by its knowledge. Now what’s more more important knowledge of stuff, or being able to imagine the stuff. We will write a custom essay sample on Essay Draft or any similar topic only for you Order Now Let’s say you’re building a house. If you have knowledge you’ll build a steady house, normal sized. With your imagination you could’ve imagined a mansion with a pool, home theater, etc. So what is more important. Essay: Very early in the story the narrator was talking about how cold it is, and how that’s all that came to the mans head,† Oh,it’s cold. † While the dog didn’t know it was below freezing he could read a thermometer, he knew this was no time to be out, and he wondered why the man hasn’t built a fire yet. The man kept walking and walking only thinking about how cold it is. In this case he dogs instincts win. Dog 1- Man O Next case scenario is when the man sends the dog to go up front and check if it’s safe. The dog goes and falls on water, causing him to quickly lick his paws to get them heated so they wouldn’t freeze and get numb. Now the dog didn’t know what would happen if his feet got frozen, it was its instinct. The man also falls in water wetting his knees, he knew this would delay him an hour and that he had to build a fire. He got a fire starting but because he kept boning the tree to grab branches, the snow from atop the tree fell down on the fire. He got angry and tried to build another fire, but his feet and hands were badly frozen. There was nothing he could do. The dog’s instincts win again. Dog 2-Man O Now there are many more scenarios and could keep going naming one by one then explaining but that will be boring. So IM going to shake things up a bit. The man has lots of knowledge as you know, but he doesn’t have knowledge of the things surrounding him, as it’s his first winter. How to cite Essay Draft, Essays

Oil Price Affecting the AD

Question: How oil prices affect the AD or AS of an economy? Please select one of the below: The petrol exporting nations Petrol importing nations Answer: Introduction Price of oil is a major issue of concern for every economy from its exporter to its importers. It is the key which controls the economys growth and prospect directly or indirectly. If the price of oil increases, it influence the energy producing countries positively as their revenue increases by exporting that oil or the products in which oil is used as a major input. In case of oil importing countries it deteriorates, the conditions of the consumers as the hike in oil price cause an all over inflation in those economies(Davis, 2003). Cause and effects: overview The reasons behind this inflation are obvious. Oil is the base of any economy. From transport industry to the manufacturing, the role of oil dominates their position that whether they will be beneficial for the common people or not. In case of agriculture, there is need for this oil as the energy used in there to pumping, willowing all are the results of using the electricity or any kind of energy. Moreover, to produce this energy to boost it up the role of oil is inevitable. The hike in the oil price causes the increase in the cost of transportation as different kind of petroleum products is used as the fuel (Ioannides, 2014). Therefore, if the price of petrol, diesel increases it will cause to increase the transportation cost also. Now transportation is a very big issue of concern, as it is inevitable from regular office goers to farmers to industrialists to teachers etc (Debating Aggregate Demand and Aggregate Demand: Introduction, 2010). Increase in oil price also causes the food inflation as the cost of production increases due to hike in oil price. It influences the people of the economy hampering their purchasing power parity, because their income does not rise with the increase in the price level they face in the food market (Ito, 2010). Issues of the Oil importing nations Here we consider the issues of the oil importing countries and analyze how their aggregate demand and aggregate demand is getting affected with the rise or fall in oil prices. One of the major oil importing country is United Kingdom. So let us concentrate on this economys difficulties with change in the price of oil (Lawn, 2006). In the short run, the aggregate demand curve is downward sloping and aggregate supply curve is upward sloping. Short run equilibrium occurs at the point where the two lines coincide with each other. The locus of the points of short run equilibrium is termed as the long run aggregate supply curve. It is the responsibility of the policy makers to take the proper expansionary or contractionary policy as par the fall or hike in oil prices to provide the common people a stable economic condition (Nakano, 2004). The current economic condition of the economy refers to the situation causing the economy to boost up because the recently a downfall has been noticed in the recent oil price. So it affects the economy of UK in both ways. For the consumers and the manufacturers as well as transport authorities, it seemed to be good news. However, in case of oil and gas extraction sector has been hampered a lot for this fall (OIL PRICE REVIEW, 2010). If we consider the economic activities of UK, we can see that the business like air transport, road transport, and refined oil petroleum based industries, and the manufacturing sectors producing oil intensive products are getting benefits as their cost of productions getting low as the prices of oil falls. It results in lowering inflation and it creates massive employment (Oil Price Review, 2013). Now if we consider the sector of oil and gas extraction, we get that, it is severely affected due to the fall in prices of oil. Here volatility of oil prices is considered the external shock and government should take the remedial policies to get over the situation (Pandey, n.d.). Adverse demand shock: a significant hike in oil price The rise in the oil prices are the one of the major cause of slowing down the growth in the oil importing countries. The terms of trade of those countries fall down due to this price hike. It implies that the cost of each unit of import is more than the domestic earning from the each unit of export. So the size of the price hike and the time duration of it affects the aggregate demand of the economy. Real Income and wealth effect on aggregate demand It has been empirically noticed that the economic situation was more affected in the 1973-74 or 78-80, than that of mid 90 crisis. The cotractionary effect was observed in the economy. In todays technological up gradation, it has been noticed that the energy conservation is a very important tool to get rid of this problem. It reduces the dependency on the oil imports thus minimizing the impact of the price hike in oil industries. Effects on world demand The fall in the terms of trade refers to the sharp transfer of wealth from the oil importing countries to the exporting one, the real income will be declined due to this price rise. Through the aggregate demand model here, we represent the situation of the British economy with the light of impact of rise in the oil prices. The model is here being used to analyze what should be the key targets or economic policies to fight with the external shocks. The activity here has been designed to show the role of the aggregate demand in this kind of situation of the economy. The model used is a simplified one. Models are used to compare the reality with a standard perfect situation (POSSO, 2012). It helps us to diagnose how far the real situation is from the ideal one. It gives the idea about the non-standard ceases also by changing the main variables. It can be checked by varying one or more than one variables, then what happens if the economy gets that kind of shock. It helps to predict the future situation and rectify the economy over time with the method of rational expectation (SHU, 2007). As we go on the deep of the problem, the model becomes more complex, as the availability of information diminishes. An increase in oil prices majorly affects the aggregate demand as the oil is such a product which is used in almost every industry. So hike in oil prices will cause increase in the price of the factor inputs which lie on the economy. So it will cause the aggregate demand schedule to shift rightward so that inflation increases than the initial situation. It is obvious, because as we have discussed earlier that the oil price hike causes the deterioration of the purchasing power of the common people. And here fall in real national income refers to the same situation. The contraction in the aggregate demand lowers the real income causing a lower economic growth faced by the economy. Now low economic growth causes lack of employment as the prospect of future recruitment is very disappointing in the industry (Zhang et al., 2014). So in case of Britain what we notice in case of increase in oil price is the severe unemployment in the industrial economy, because of the dependency of the modern technology on the energy sector. The economic interpretation is very clear, as each industry is more or less dependent in the energy sector, so this external shock of significant oil price hike causes massive inflation resulting severe unemployment in every sector due to the fall in real national income. Aggregate demand Model: effect of price hike Output or income What we notice in the above diagram that the fall of oil price causes the aggregate demand curve to shift to rightward. What we can see in the diagram, is that at the new equilibrium point, price level falls so inflation decreases. Another point is that the output level or the real income level increases than that of the initial situation. As real income is Y/P. As P falls, Y/P automatic increases in case of fixed Y. The economic interpretation is that the economic development is observed while the real income increases. It accelerates the pace of the economic growth for that particular oil importing nation. Now as the energy sector is solely dependent upon the availability of the crude oil, its volatility as the factor cost severely affect the economy. Now as the price of oil falls as in this case, it opens up several employment opportunities. So, we can say that this positive demand shock can reduce the unemployment of Britain as an oil importing nation. Concluding remarks Now the significance of this new equilibrium is that the real income level comes back to the initial position. So a natural level of unemployment is always maintained in the economy. But the price level does not go up to the initial position. So, we can interpret that, a positive demand shock can take care of inflation and unemployment in the short run but only the inflation in the long run. References Davis, G. (2003). Book Review - Oil and the Economy: Recent Developments in Historical Perspective, edited by James L. Smith.EJ, 24(4). Debating Aggregate Demand and Aggregate Demand: Introduction. (2010).Review of Radical Political Economics, 42(3), pp.307-307. Ioannides, Y. (2014). Neighborhoods to nations via social interactions.Economic Modelling. Ito, K. (2010). The Impact of Oil Price Hike on the Belarusian Economy.Transit Stud Rev, 17(1), pp.211-216. Lawn, P. (2006). Using the Fisherian concept of income to guide a nation's transition to a steady-state economy.Ecological Economics, 56(3), pp.440-453. Nakano, T. (2004). Theorising economic nationalism*.Nations and Nationalism, 10(3), pp.211-229. Oil Price Review. (2013).Oil and Energy Trends, 38(7), pp.10-12. OIL PRICE REVIEW. (2010).Oil and Energy Trends, 35(10), pp.10-12. Pandey, R. (n.d.). Macroeconomic Implications of Oil Price Hike.SSRN Journal. POSSO, A. (2012). REMITTANCES AND AGGREGATE LABOR DEMAND: EVIDENCE FROM SIXTY-SIX DEVELOPING NATIONS.The Developing Economies, 50(1), pp.25-39. SHU, J. (2007). Correlation between adenylosuccinate lyase (ADSL) gene polymor-phism and inosine monophosphate acid (IMP) content in domestic fowl and genetic relationship between red jungle fowl and domestic fowl.HEREDITAS, 29(03), p.343. Zhang, G., Liu, P., Gao, X. and Liu, M. (2014). Companies Behavior of Carbon Emission Reduction at the Risk of Oil Price Volatility.Procedia Computer Science, 31, pp.291-298.