provide detailed answers.

Question 1: The UAE government introduced its stimulus package to Dh126 billion ($34bn) to help offset the impact of the coronavirus and to enhance liquidity and cushion the potential impact of the current global economic situation caused by the onset of the COVID-19 outbreak.Among other initiatives, the followinginitiatives state that:

1-Refund of 20 percent of the customs fee imposed on imported products sold in Dubai (Marks 2)

2-Settlement of all approved government payables and invoices within 15 working days (Marks 2)

3-Allocation of AED 3 billion to the SME credit guarantee scheme managed by the Abu Dhabi Investment Office to stimulate financing by local banks and enable SMEs to navigate the current market environment (Marks 2)

4-Cancellation of 25 percent down payment required for requesting installment-based payment of government fees for obtaining and renewing licenses (Marks 2)

5-Freeze on the 2.5 percent market fees levied on all facilities operating in Dubai (Marks 2)

Required:

Reflect on your understanding of the interplay between Aggregate Demand (AD) and Aggregate Supply (AS), assess how these initiatives will account for changes in AD and AS that will ultimately affect macro outcomes (prices and real output) in UAE economy?(Note:you are required to assess each of the above initiatives separately)

Question 2 (CLO 4, Mark 5): How does international trade restrain the price behavior of domestic firms?

Question 3 (CLO 4,Marks 5) What would be the implications for the foreign manufacturer of cars when the value of the dollar decreases? Analyze in detail with the help of example(s)