Exam 9: Comparative Advantage, Exchange Rates, and Globalization

Production Possibility Schedules for Two South Pacific Island Nations In Tuvalu, the opportunity cost of producing one coconut (in terms of mangoes) is:

Manufacturing wages have risen significantly for 20 years.

Production Possibility Schedules for Two South Pacific Island Nations Which of the following statements is true?

Refer to the graph shown. Given these production possibility curves, you would suggest that:

In the United States, globalization has caused workers in the education, healthcare, and government sectors to face:

If a country's exchange rate appreciates, the world price level:

The appreciation of a currency will:

The text mentions 10 sources of U.S.comparative advantage.Which of the following is not one of them?

If countries decide they will no longer buy U.S.assets or lend to the United States:

In the graph below, the value of the dollar is:

The resource curse is when:

Refer to the graph shown. We can conclude from the diagram that:

What economists call the law of one price depends on:

Refer to the table shown. A comparative advantage in the production of gold is held by:

The text calls the type of comparative advantage that is not easily changed, such as climate:

Economists and laypeople see the pros and cons of international trade in different ways.Which of the following is one of those ways?

The U.S.textile industry is relatively small because the United States imports most of its clothing.A clear result of the importation of clothing is that:

Refer to the table shown. In this example:

Refer to the table shown.From this table we can conclude that:

A widget has an opportunity cost of 4 wadgets in Saudi Arabia and 2 wadgets in the United States.Given these opportunity costs, you would suggest that: