Read the relevant chapter from your textbook and the short case. The Library link to the case is located below. Prepare to answer the questions below. (see Chapter 5 in your required textbook, Hill et al., 2019, 5Ed) The West's threat of a ban on Russian oil shakes markets - The Economist March 7th 2022, pp. 1-4

1. What is likely to happen to the foreign exchange market and global capital markets as a result of the American led-energy embargo of Russian exports? Why?

2. What economic theory of exchange rates might you use to explain this situation and scenario as it unfolds? Short term and long term? The West's threat of a ban on Russian oil shakes markets

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