Word: costlier
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...crisis has also brought on a sizable rise in the dollar's value because the U.S. depends much less on the Arabs' oil than the Europeans and Japanese do. As oil becomes scarcer and costlier, their industries stand to be hit painfully, and they will have to spend proportionately more than the U.S. for imported petroleum. These factors will damage their payments balances and weaken their currencies. As foreign currencies decline, the dollar should become relatively stronger. Alan Murray, a vice president of New York's First National City Bank, predicts that the dollar will float...
...fast developer will go on the market in mid-1974. It will probably turn up first in television news departments, some of which are switching to super 8 from more expensive 16-mm. film, and pose a threat to suppliers of videotape equipment; tape is much costlier and harder to edit than film. Though amateur movie buffs will benefit from the fast processor, they should pause before rushing to place an order. The price...
...more socially responsible public attitude toward land. States and localities are imposing stricter zoning laws and environmental standards, punitive taxes on speculators, even some outright bans on development (see story page 94). The new moves are long overdue, but they have the side effect of making land development ever costlier, reducing the supply of what real estate men call "buildable" land...
...essence, the board is trying to make credit scarcer and costlier without choking it off altogether. Loans are still available for a stiff price, but shortages are beginning to appear, and business borrowing is declining. Some Chicago banks will make loans only to longstanding corporate customers. A would-be new borrower is out of luck unless it happens to be a giant company. In July mortgage interest rates staged the fastest one-month rise ever and are now as high as 9% where state laws permit. Some S and Ls are raising down-payment requirements from 20% to as much...
Treasury Secretary George Shultz and Herbert Stein, chairman of the Council of Economic Advisers, cling to the fragile hope that consumers will simply refuse to buy costlier foods and thus slow price rises soon. Portents are not good, partly because of the sharp slowdown in beef production, which remains under freeze until Sept...