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Introducing new Paper mode
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- Multiple ChoicePlease save your changes before editing any questions.To focus on producing one thing to improve productivity is known as:SpecializationInternational tradeAbsolute AdvantageSupply and Demand
- Multiple ChoicePlease save your changes before editing any questions.When determining comparative advantage one must determineOpportunity costSpecializationAbsolute AdvantageEmbargos
- Multiple ChoicePlease save your changes before editing any questions.If I am better at all types of production, I have the ______ in all forms of production.Comparative advantageSpecializationAbsolute advantagedeveloped nation
- Multiple ChoicePlease save your changes before editing any questions.A trade agreement between Canada, Mexico, and the USNAFTAEUWTOABC
- Multiple ChoicePlease save your changes before editing any questions.This trade barrier limits the number of products that can be brought into a country.TariffQuotaEmbargoSubsidy
- Multiple ChoicePlease save your changes before editing any questions.This is a tax on imports that is used to increase price of foreign products and raise government revenue.tariffquotasubsidyembargo
- Multiple ChoicePlease save your changes before editing any questions.This is the most restrictive of the trade restrictions a nation can use to close off all importation of a product.tariffquotasubsidyembargo
- Multiple ChoicePlease save your changes before editing any questions.If nations limit trade in of clothing who will benefit?Domestic Consumers of clothingDomestic producers of clothingForeign Producers of clothingdepartment stores who sell clothing
- Multiple ChoicePlease save your changes before editing any questions.Not trading with nations who create products using child labor is used in the argument forDomestic JobsNational DefenseHuman RightsEnvironment
- Multiple ChoicePlease save your changes before editing any questions.A major cost of freer trade from poor nations is that they willget cheaper stuffthey will get more stuffenvironmental damagegreater variety of stuff
- Multiple ChoicePlease save your changes before editing any questions.Who will be hurt by a tariff on medicine coming into the US.US medical companiesUS government revenueSick people in US
- Multiple ChoicePlease save your changes before editing any questions.The main justification for an embargo on foreign goods is toPunish a nationraise revenueIncrease consumption or the good
- Multiple ChoicePlease save your changes before editing any questions.Developed nations have all of the following exceptbetter educationhigh levels of technologybetter healthhigher populations
- Multiple ChoicePlease save your changes before editing any questions.Underdeveloped nations tend to trade what type of goodsLow skill productsHigh tech goodsfinished productsHigh skill products
- Multiple ChoicePlease save your changes before editing any questions.Tires made in Tennessee factories are used on cars in Europe.importexport
- Multiple ChoicePlease save your changes before editing any questions.Watches made in Norway are worn by people in California.importexport
- Multiple ChoicePlease save your changes before editing any questions.Diamonds found in South Africa are used to make rings in Maine.importexport
- Multiple ChoicePlease save your changes before editing any questions.Chairs made in North Carolina are flown to Mexico.importexport
- Multiple ChoicePlease save your changes before editing any questions.A means of preventing a foreign product or service from freely entering a nation's territory.trade surplustrade embargotrade barriers
- Multiple ChoicePlease save your changes before editing any questions.The policy of imposing duties or quotas on imports in order to protect home industries from overseas competition.free tradeprotectionismbalance of trade