How did the federal government improve this situation? the turmoil started early in 1973, as customers experienced . . rapidly rising prices for fuels and other necessities. . most memorably, october brought an oil embargo by members of the organization of arab petroleum exporting countries, cutting further into the supply of oil and elevating prices to levels previously thought impossible. customers experienced lines and sometimes no fuel at gasoline stations. —u. s. energy information administration?

Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?

You are an employee of an u.s. firm that produces personal computers in thailand and then exports them to the united states and other countries for sale. the personal computers were originally produced in thailand to take advantage of relatively low labor costs and a skilled workforce. other possible locations considered at that time were malaysia and hong kong. the u.s. government decides to impose punitive 100% ad valorem tariffs on imports of computers from thailand to punish the country for administrative trade barriers that restrict u.s. exports to thailand. how do you think your firm should respond? what does this tell you about the use of targeted trade barriers?

Oliver's company is planning the launch of their hybrid cars. the company has included "never-before-seen" product benefits in the hybrid cars. which type of advertising should oliver's company use for the new cars?