Word: outputted
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...beginning to hit the industry hard. Vinyl, known in the trade as PVC (polyvinyl chloride), is the chemical byproduct of crude oil from which records are made. As a result of oil shortages, Columbia has been forced to suspend its $1.98 Harmony pop label; it also trimmed its November output by postponing several releases until 1974. In general, the industry will probably have to opt for greater selectivity in its releases-or, as Lieberson puts it, "an end to buckshotting-throwing everything against the wall to see what sticks...
...best that Europe can hope for in 1974 is "stagflation"-an uncomfortable mixture of stagnating output ac companied by continued inflation. Living costs are likely to rise by 10% or more in many countries. Recession -that is, an actual decline in output - is a possibility, though far from a certainty...
...performance of the three biggest economies-those of West Germany, France and Britain. Smaller nations are so heavily dependent on them that they cannot hope to immunize themselves from the Big Three's economic ailments. Professor Jan Pen of the University of Groningen says: "To forecast employment and output in The Netherlands, we must first ask how our chief trading partners will fare." Reports from the key economies...
...bloc, the move was pure serendipity. Almost overnight, as global shortages reached crisis proportions, the value of their oil deposits began to zoom. Yet the oil producers have resisted the temptation to try to pump fast enough to make up for the Arab cutback. Instead, they have cannily held output to roughly ordinary levels while sharply scaling up prices. That strategy is resulting in a kind of forced, massive transfer of wealth from the rich oil-burning countries that may spur economic growth in the mainly underdeveloped producing nations more than formal foreign aid ever could...
...like choosing between Pepsi-Cola and Coca-Cola," snapped Jose Vicente Rangel, the Marxist-Socialist candidate who finished a distant fourth, with roughly 4.2% of the vote. It was true that neither of the two leading candidates could show clear political differences from his opponent. Though Venezuela's output of about 3.4 million bbl. of crude daily makes it the world's third largest oil producer (after Saudi Arabia and Iran), oil never became an issue. Both major candidates agreed that foreign oil concessions, mostly to American companies that now have a $2 billion investment in Venezuelan...