Which of the followings is not an example of dynamic gains of international trade?
a. More efficient use of an economy’s resources
b. Higher output and income
c. Higher price of consumer goods
d. Higher rate of economic growth
"C"
The international trade actually reduce the price of the consumer goods that are imported from different nations, The answer is "C".
Which of the followings is not an example of dynamic gains of international trade? a. More...
6. If the relative opportunity costs of producing goods are identical across countries, then there are tary p A. no gains from trade. for t B. gains from trade if trade is based on absolute advantage mand C. gains from trade if trade is based on comparative advantage pply D. gains from trade that depend on the degree of competition between intemational traders. nd fo 7. The text lists three reasons why economists and non-economists see the pros and cons...
Which of the following statements about international trade restrictions is true? a. They typically benefit foreign producers at the expense of domestic consumers. b. They ensure that countries will specialize in those products which they can produce most efficiently. c. In the majority of cases they harm consumers. d. They ensure that only efficient producers survive. e. They ensure that higher-quality goods are provided at lower prices.
Multiple Choice Questions 1. Each of the following is an example of an economic resource except A. land. B. money C. capital. D. labor. Consumer goods Refer to the above graph. Which movement between two points represents an increase in econ growth? A. J to K B. K to L C. L to M D. N to N 2. 3. Refer to the above graph Points J, N and K on the inner production possibilities frontier repre A an inefficient...
Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between international trade and domestic trade More complex context More difficult and risky Higher management skills required 3. Basic concept s relating to international trade Visible trade & invisible trade Favorable trade & unfavorable trade General trade system & special trade system Volume of international trade & quantum of international trade Commodity composition of international trade Geographical composition of international trade Degree / ratio of...
The loss of jobs due to international trade is often: Group of answer choices a) more visible than the decline in consumer prices due to international trade. b) less visible than the decline in prices due to international trade. c) greater than the benefit of trade in the form of decline in prices. d) spread across all sectors while decline in prices is concentrated in one sector.
One point on which most economists agree is that: More productive economies should not trade with less productive economies Government spending impedes economic growth International trade should be restricted to protect jobs in the United States Voluntary exchange creates value The current income tax rates are too high
1 .Which concept represents the broadest view? Trade Surplus Globalization International Business 2 If you are able to produce 1 piece of fine furniture or 10 birdhouses using the same resources, and your competitor is able to produce 5 pieces of fine furniture or 10 birdhouses using the same resources, who has the comparative advantage? You Neither Your competitor in fine furniture 3 When conducting business in a market of comparative advantage, trading partners will realize: decreased demand for products....
55. Chapter ma2pe08r, Section .32, Problem 049 (ID: 049.03.2 - MC - MANK08) The gains from trade are a. evident in economic models, but seldom observed in the real world. b. evident in the real world, but impossible to capture in economic models. c. a result of more efficient resource allocation than would be observed in the absence of trade. d. based on the principle of absolute advantage.
I need help 8:38 AM Fri Jan 25 95% KHomework1 Homework 1.pdf Short Answer Questions I. Consider an economy that produces Military goods and Consumer goods, the PPF and the case that more recourses become available are given by the graph below. You are asked to identify how the followings affect the PPF. In order to get full mark, you have to figure out both the moving section (military goods section or consumer goods section) and the direction (outward or...
International trade 37 The learning curve describes the A) direct; unit cost; cumulative output B) inverse; education; annual income C) inverse; unit cost; cumulative output D) direct; education; annual income E) direct; education; labor productivity and . relationship between 38 The simultan eous export and import of widgets by the United States is an example of A) intra-industry trade. B) increasing returns to scale. C) imperfect competition. D) inter-industry trade. E) the effect of a monopoly on international trade.