This topic contains a solution. Click here to go to the answer

Author Question: Buyers scrambled to secure stocks of Australian wool following a forecast of an 11 percent decline ... (Read 126 times)

madam-professor

  • Hero Member
  • *****
  • Posts: 584
Buyers scrambled to secure stocks of Australian wool following a forecast of an 11 percent decline in wool production. What happens in the Australian wool market as a result of this announcement?
 
  A) The quantity of Australian wool demanded increases in anticipation of higher prices in the future.
  B) The demand curve for Australian wool shifts to the left in anticipation of higher prices in the future.
  C) The quantity of Australian wool demanded decreases in anticipation of lower quantities in the future.
  D) The demand curve for Australian wool shifts to the right in anticipation of higher prices in the future.

Question 2

Which of the following statements is false?
 
  A) Not all sectors of the U.S. economy are affected equally by international trade.
  B) Most of the leading exporting countries are large, high-income countries.
  C) Exports benefit trading countries because exports create jobs. Imports do not benefit trading countries because they result in a loss of jobs.
  D) Each year the United States exports about 50 percent of its wheat crop and 20 percent of its corn crop.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nikmaaacs

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

D

Answer to Question 2

C




madam-professor

  • Member
  • Posts: 584
Reply 2 on: Jun 29, 2018
Excellent


Bigfoot1984

  • Member
  • Posts: 321
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

For a complete list of videos, visit our video library