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

Author Question: In 1990 the United States imposed trade embargoes on Iraq's international trade. The negative effect ... (Read 268 times)

tichca

  • Hero Member
  • *****
  • Posts: 554
In 1990 the United States imposed trade embargoes on Iraq's international trade. The negative effect on Iraq's consumer surplus would be greater the
 
  A) less elastic Iraq's demand schedule.
  B) more elastic Iraq's demand schedule.
  C) greater Iraq's dependence on foreign products.
  D) more inelastic Iraq's supply schedule.
  E) less elastic Iraq's labor force is.

Question 2

Imagine that the economy is at a point on that is below both AA and DD, where both the output and asset markets are out of equilibrium. Which first action is TRUE?
 
  A) The economy will stay at this level in the short run.
  B) The exchange rate will first rise to a point on the AA schedule.
  C) The exchange rate will first rise to a point on the DD schedule.
  D) The AA-DD equilibrium will shift to the position of the economy.
  E) The output level will first increase to a position on the DD schedule.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tdewitt

  • Sr. Member
  • ****
  • Posts: 318
Answer to Question 1

B

Answer to Question 2

B





 

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

For a complete list of videos, visit our video library