Price-supports or <span>buying surplus crops and selling them abroad.</span>
The correct answer is:
Their economies would suffer as the price of oil would go up and their profits would go down.
This would be devastating for their economies since they depend on the oil industry. Iraq’s economy is governed by the oil sector, which has contributed around 99.7% of foreign exchange incomes in modern times.
The economy of Saudi Arabia it´s dependent on petroleum as the country has the second-largest proven oil reserves, and it's the biggest exporter worldwide.
Yes, the government practiced laissez-faire economics when promoting railroad construction.
- This is because laissez-faire economics is a type of economics that is determined solely by the power of demand and supply without the intervention of the government.
- Laissez-faire economics is considered to be a total or pure capitalism where the only influence is the force of demand and supply.
Since the railroad construction in the United States in the 19th century was built by the private sector or individuals, and the prices of transportation were determined by the market forces,
hence, in this case, the correct answer is "Yes, the government practiced laissez-faire economics when promoting railroad construction."
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Year 2000..... so 16 years before trump became president