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- Multiple ChoicePlease save your changes before editing any questions.
Based on the table above, which country has the ABSOLUTE ADVANTAGE in manufacturing parts?
Country A
Country B
Country C
- Multiple ChoicePlease save your changes before editing any questions.
Who has the COMPARATIVE ADVANTAGE in making bracelets?
Marie
Isabella
- Multiple ChoicePlease save your changes before editing any questions.
Which two of the following are the most likely effects of the imposition of a tariff on an imported good?
a) The domestic price of the imported good will fall
b) Overseas production of the good may be stimulated
c) Overseas employment will rise
d) The domestic price of the imported good will rise
e) Gain of tax revenue by the government
b) and e)
d) and e)
c) and d)
a) and c)
- Multiple ChoicePlease save your changes before editing any questions.
Which two of the following are arguments used by critics of free trade?
a) Free trade does not take into consideration productivity differences between countries
b) Free trade may lead to unemployment
c) Free trade often ignores the effects of monopoly elements on consumer welfare d) Free trade can only work within trading blocs
e) Free trade reduces international specialization
c) and e)
b) and c)
a) and c)
b) and e)
- Multiple ChoicePlease save your changes before editing any questions.
Which two of the following arguments are most likely to be used to justify protectionism?
a) To protect high cost domestic industries
b) To protect strategically important industries
c) To protect industries which are still immature
d) To maximize government tax revenue
e) To protect environmental standards
a) and b)
c) and d)
b) and c)
d) and e)
- Multiple ChoicePlease save your changes before editing any questions.
Which of the statements below does NOT support a free trade policy?
Countries can specialize in goods and services to produce them at a lower cost at a higher quality
It allows companies in both countries to succeed and grow their economy without unnecessary competition
Improves diplomatic relations between countries
Helps prevent other countries from interfering in our economy
- DrawPlease save your changes before editing any questions.
If you knew the price of an item such as a hamburger combo meal in Mexican pesos, how would
you determine how many dollars you would need to buy it? Provide a possible equation
below:
Background image - Multiple ChoicePlease save your changes before editing any questions.
If the price of an iPad in Brazil is $500 U.S. dollars and 1140 Brazilian Real, what is the exchange rate of Brazilian Real to U.S. Dollars?
0.43 Brazilian Real to 1 dollar.
2.28 Brazilian Real to 1 dollar.
1640 Brazilian Real to 1 dollar.
640 Brazilian Real to 1 dollar.
- Multiple ChoicePlease save your changes before editing any questions.
With an exchange rate of 0.73 euros for 1 dollar, a US company is able to purchase 100 trucks from Germany. If the exchange rate shifted to 1 euro for 1 dollar, what would happen to the price the US company would pay for trucks?
The price would go down, because the US dollar has appreciated.
The price would go up, because the US dollar has depreciated.
The price would go up, because the US dollar has appreciated.
The price would go down, because the US dollar has depreciated.
- Open EndedPlease save your changes before editing any questions.
Sony is exporting its newest gaming system to the US. The system costs 40,800 yen in Japan. If the dollar is valued as 102 yen, what is the price of the system in US dollars?