After an unexpected ________ in the price of oil, the long-run adjustment decreases the price level and ________ the unemployment rate as they return to their original levels

In order to import German goods into the United States, U.S. importers must buy those goods with German currency, i.e., Euros. Assume, all else constant, there is a decrease in the price of U.S.-made cars compared to the price of German cars

Based on this information, we can conclude, with certainty, that in the market for Euros (where the price of Euros is measured in dollars), this would cause: A) an increase in the equilibrium price of Euros. B) a decrease in the equilibrium price of Euros. C) an increase in the equilibrium quantity of Euros. D) a decrease in the equilibrium quantity of Euros.

Draw a graph showing the effects of imposing a tariff in the small country case. Describe the results, using the concepts of producer surplus, consumer surplus and deadweight loss. Specifically address the effects on consumers, producers, government revenue and overall national well-being, connecting those effects to areas of your graph

What will be an ideal response?