Exam 7: Global Markets in Action

Canada exports athletic coaching services and imports computer tech support.The price of computer tech support in Canada is ________ with international trade than without international trade.As a result of trade in computer tech support,the Canadian producer surplus from computer tech support ________ and the Canadian consumer surplus from computer tech support ________.

When a firms "dumps" some of its output in another country,it

The effects of offshoring from opening up call centres in India are similar to the effects from

Refer to the figure below to answer the following questions. The figure shows the market for shirts in Canada,where D is the domestic demand curve and S is the domestic supply curve.The world price is $20 per shirt. Figure 7.2.1 -In Figure 7.2.1,with international trade Canada ________ million shirts per year.

If a country imposes a tariff on an imported good,the tariff ________ the price in the importing country and ________ the quantity of imports.

Refer to the figure below to answer the following question. Figure 7.2.3 -Refer to Figure 7.2.3.The graph shows the market for shoes in Canada.The world price of a pair of shoes is $20.With free international trade,Canadian consumer surplus ________ and Canadian producer surplus ________.

Refer to the figure below to answer the following questions. The figure shows the market for shirts in Canada,where D is the domestic demand curve and S is the domestic supply curve.The world price is $20 per shirt. Figure 7.2.1 -In Figure 7.2.1,international trade ________ consumer surplus in Canada by ________.

The fundamental force that drives international trade is

Among the following,the domestic government gains the most revenue when it

The introduction of a tariff ________ consumer surplus,________ producer surplus,and ________ total surplus.

Which of the following are reasons economists consider valid for trade protection? I.Protection penalizes countries that have weak environmental standards. II.Protection limits dumping of low-wage jobs into the domestic economy. III.Protection prevents low-wage jobs in foreign countries from lowering wages in Canada.

When Canada exports a good,Canada's consumer surplus ________ and Canada's total surplus ________.

Rent seeking is one reason why countries choose to

Suppose the country of Mooland imposes tariffs on imported beef from the country of Aqualand.As a result of the tariffs,the

Refer to the figure below to answer the following questions. The figure shows the market for shirts in Canada,where D is the domestic demand curve and S is the domestic supply curve.The world price is $20 per shirt. Figure 7.2.1 -In Figure 7.2.1,with international trade Canadians buy ________ million shirts per year.

Which of the following is a Canadian service export?

Canada has a comparative advantage in producing hardwood if the Canadian price of hardwood before international trade is ________ the world price.

In a market that moves from a situation of no trade to a situation where a good is exported,the price of the good ________,the quantity produced by the domestic industry ________,and producer surplus ________.

Compared to the situation before international trade,after Canada imports a good,production in Canada ________ and consumption in Canada ________.

A tariff ________ a deadweight loss and an import quota ________ a deadweight loss.