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Question 10 0.1 pts A country runs a trade surplus when their exports are their imports...
QUESTION 9 When a country's imports is greater than its exports, the country is experiencing a...
QUESTION 9 When a country's imports is greater than its exports, the country is experiencing a Ca. trade balance cb. trade residual c. trade deficit d. trade surplus QUESTION 10 The slop of the production possilbilities frontier is equal to a. The marginal cost of the good measured on the horizontal axis b. The marginal cost of the good measured on the vertical axis c. The opportunity cost of the good measured on the horizontal axis d. The opportunity cost...
2. trade surplus 3. import quota 4. intra-industry trade 5. factor intensity 6. producer surplus II....
2. trade surplus 3. import quota 4. intra-industry trade 5. factor intensity 6. producer surplus II. TRUE OR FALSE? (20%) 1, A production possibilities frontier graphically represents the maximum output of a country when the supply of resources and technology are constant.() 2. Absolute advantage theory shows that two nations could both gain from trade by exporting products in which their labor productivity was higher than that of the other nation. () 3, Mercantilists believed that each nation should try...
45. Assume that a country currently has a trade surplus. If that country experiences an expansion...
45. Assume that a country currently has a trade surplus. If that country experiences an expansion in economic activity, what would we expect to happen to the trade surplus? Exports tend to be lower during this time, which increases the trade surplus. Nothing, because expansions do not impact the trade surplus. Exports tend to be higher during this time, which decreases the trade surplus. Imports tend to be lower during this time, which increases the trade surplus. Imports tend to...
A mercantilist approach to trade argues that a country should Multiple Choice promote exports over imports...
A mercantilist approach to trade argues that a country should Multiple Choice promote exports over imports because trade is a zero-sum activity. pursue free trade because trade is a zero-sum activity. prohibit all exports because trade is a zero-sum activity. promote imports over exports because trade is a zero-sum activity.
Suppose Country X exports good A and imports good B. And, Country Y exports good B...
Suppose Country X exports good A and imports good B. And, Country Y exports good B and imports good A. When country Y imposes an import tariff, what happens to the terms of trade in these countries and what is the impact of this on economic welfare (assume no other factor determines economic welfare).
When a country seeks to maintain a balance-of-trade surplus by reducing imports, stimulating home production, and...
When a country seeks to maintain a balance-of-trade surplus by reducing imports, stimulating home production, and promoting exporting exports, it is practicing 5. a. autarky b. socialism c. neomercantilism d. capitalism 6. The end of Bretton Wood system occurred in 1971 when President Richard Nixon announced the United States would a. pursue a policy of detente with the USSR b. establish diplomatic ties with China c. no longer exchange dollars for gold d. stop accepting petrodollars 7. A trade poliey...
Question 18 If a country experiences a surge of exports that leads to greater trade surplus,...
Question 18 If a country experiences a surge of exports that leads to greater trade surplus, what must happen to this country's financial account to maintain its balance of payments, all else equal? a. The financial account balance will decrease. b. The financial account balance will be unchanged. c. The financial account balance will increase. d. The financial account balance is unrelated to the current account and can change in any direction. 3.33 points Question 19 Suppose that Tesla (an...
ON Problem From Appendix C material) The exports and imports of country A in year 1...
ON Problem From Appendix C material) The exports and imports of country A in year 1 are listed below These are the only goods traded by country A Good Value of Exports Value of Imports $100 $20 300 80 100 300 5 $400 caiculate country As index ot intra-industy trade for year
If country X has imports valued at $0.4 trillion, exports valued at $4.7 trillion, and GDP...
If country X has imports valued at $0.4 trillion, exports valued at $4.7 trillion, and GDP valued at $11 trillion, calculate the index of openness for country X. Round to two decimal places. In the figure above, A=33, B=26, C=21, D=8.2, E=11.4, F=14.3, G=17.6, H=20.2. What's the loss in consumer surplus when moving from free trade to the quota price? Enter as a positive number and round to two decimal places.
If a country runs a trade surplus for years and follows what is called a "floating...
If a country runs a trade surplus for years and follows what is called a "floating exchange rate" what happens to the value of its currency versus other currencies?
QUESTION 9 When a country's imports is greater than its exports, the country is experiencing a Ca. trade balance cb. trade residual c. trade deficit d. trade surplus QUESTION 10 The slop of the production possilbilities frontier is equal to a. The marginal cost of the good measured on the horizontal axis b. The marginal cost of the good measured on the vertical axis c. The opportunity cost of the good measured on the horizontal axis d. The opportunity cost...
2. trade surplus 3. import quota 4. intra-industry trade 5. factor intensity 6. producer surplus II. TRUE OR FALSE? (20%) 1, A production possibilities frontier graphically represents the maximum output of a country when the supply of resources and technology are constant.() 2. Absolute advantage theory shows that two nations could both gain from trade by exporting products in which their labor productivity was higher than that of the other nation. () 3, Mercantilists believed that each nation should try...
When a country seeks to maintain a balance-of-trade surplus by reducing imports, stimulating home production, and promoting exporting exports, it is practicing 5. a. autarky b. socialism c. neomercantilism d. capitalism 6. The end of Bretton Wood system occurred in 1971 when President Richard Nixon announced the United States would a. pursue a policy of detente with the USSR b. establish diplomatic ties with China c. no longer exchange dollars for gold d. stop accepting petrodollars 7. A trade poliey...
ON Problem From Appendix C material) The exports and imports of country A in year 1 are listed below These are the only goods traded by country A Good Value of Exports Value of Imports $100 $20 300 80 100 300 5 $400 caiculate country As index ot intra-industy trade for year
If country X has imports valued at $0.4 trillion, exports valued at $4.7 trillion, and GDP valued at $11 trillion, calculate the index of openness for country X. Round to two decimal places. In the figure above, A=33, B=26, C=21, D=8.2, E=11.4, F=14.3, G=17.6, H=20.2. What's the loss in consumer surplus when moving from free trade to the quota price? Enter as a positive number and round to two decimal places.
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