13. Using diagrams illustrate the benefits of trade. Assume that countries in the world are at autarky and they decide to move to free trade. Explain your diagram 14. What are the types of demand for stocks? Using the diagrams, illustrate the impact of stocks on market prices. 15. Assume that the United States is a large country exporter of corn. Congress is expected to pass a law requiring that corn-based ethanol be used as a blending agent for gasoline. What impact will this have on exports and world price of com? Analyze this problem graphically and verbally. 16. What does excess demand represent? Explain using a diagram. 17. What does excess supply represent? Explain using a diagram. 13. Using diagrams illustrate the benefits of trade. Assume that countries in the world are at autarky and they decide to move to free trade. Explain your diagram 14. What are the types of demand for stocks? Using the diagrams, illustrate the impact of stocks on market prices. 15. Assume that the United States is a large country exporter of corn. Congress is expected to pass a law requiring that corn-based ethanol be used as a blending agent for gasoline. What impact will this have on exports and world price of com? Analyze this problem graphically and verbally. 16. What does excess demand represent? Explain using a diagram. 17. What does excess supply represent? Explain using a diagram