Are economic sanctions usually effective in achieving policy goals? Explain
What will be an ideal response?
Table 7.5 in the text presents evidence that economic sanctions are successful in achieving policy goals in, at best, only perhaps half of the time. While economic sanctions can seriously harm the economy of a country on which they are imposed, that alone may not be sufficient to achieve the policy goal, especially if that goal is difficult, such as regime change or major policy changes.
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Which of the following is an explanation as to why fluctuations in real GDP have become less volatile in the United States since 1950?
A) The government has become less inclined to intervene to stabilize the economy. B) Unemployment insurance and other government transfer programs have become more prevalent. C) The government and the Federal Reserve have decreased regulation and scrutiny of the financial system. D) Goods manufacturing has become a larger fraction of GDP.
Neuroeconomics suggests that the frontal lobe carries out most decision making and strategic thinking takes place in the prefrontal cortex
a. True b. False Indicate whether the statement is true or false
On Naomi's pig farm, Naomi hires all the labor used, grows all the grain fed to the pigs, and owns the barn. The costs used to calculate the total cost curve include
a. only the cost of labor. b. only the cost of labor and the cost of grain, which is completely consumed in the period in which it is grown. c. only the variable cost of growing grain. d. the cost of labor, the cost of growing grain, and the opportunity cost of the barn.
If the price of cameras rise, there will be a(n)
A. decrease in the demand for film. B. increase in the quantity of cameras demanded. C. increase in the demand for film. D. None of the answers are correct.