How would the economies of Saudi Arabia and Iraq be affected if people in other countries stopped using as much oil as they do today?%0D%0A%0D%0A(1 point)%0D%0AResponses%0D%0A%0D%0ATheir economies would suffer as the price of oil went up and their profits went down.%0D%0A%0D%0ATheir economies would suffer as the price of oil went up and their profits went down.%0D%0A%0D%0ATheir economies would improve as the price of oil rose and jobs in the oil industry were created.%0D%0A%0D%0ATheir economies would improve as the price of oil rose and jobs in the oil industry were created.%0D%0A%0D%0ATheir economies would suffer as other countries bought less of the oil that Saudi Arabia and Iraq produce.%0D%0A%0D%0ATheir economies would suffer as other countries bought less of the oil that Saudi Arabia and Iraq produce.%0D%0A%0D%0ATheir economies would not be seriously affected because they are very diverse.
Their economies would suffer as the price of oil went up and their profits went down. Since Saudi Arabia and Iraq are heavily dependent on oil exports for revenue, a decrease in demand for oil would lead to a decrease in profits, resulting in economic hardship for both countries. Additionally, a decline in oil prices could also lead to job losses in the oil industry, further impacting their economies.
