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 196 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?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

For a complete list of videos, visit our video library