Chat with AIExam 9: Comparative Advantage, Exchange Rates, and Globalization
Exam 1: Economics and Economic Reasoning112 Questions
Exam 2: The Production Possibility Model, Trade, and Globalization109 Questions
Exam 3: Economic Institutions142 Questions
Exam 4: Supply and Demand125 Questions
Exam 5: Using Supply and Demand101 Questions
Exam 9: Comparative Advantage, Exchange Rates, and Globalization107 Questions
Exam 10: International Trade Policy79 Questions
Exam 24: Economic Growth, Business Cycles, and Unemployment96 Questions
Exam 25: Measuring and Describing the Aggregate Economy176 Questions
Exam 26: The Keynesian Short-Run Policy Model: Demand-Side Policies163 Questions
Exam 27: The Classical Long-Run Policy Model: Growth and Supply-Side Policies110 Questions
Exam 28: The Financial Sector and the Economy174 Questions
Exam 29: Monetary Policy188 Questions
Exam 30: Financial Crises, Panics, and Unconventional Monetary Policy95 Questions
Exam 31: Deficits and Debt: the Austerity Debate111 Questions
Exam 32: The Fiscal Policy Dilemma100 Questions
Exam 33: Jobs and Unemployment53 Questions
Exam 34: Inflation, Deflation, and Macro Policy126 Questions
Exam 35: International Financial Policy164 Questions
Exam 36: Macro Policy in a Global Setting110 Questions
Exam 37: Structural Stagnation and Globalization97 Questions
Exam 38: Macro Policy in Developing Countries120 Questions
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Assume that in Canada the opportunity cost of producing one television set is two bushels of wheat.Assume that in the United States the opportunity cost of producing one bushel of wheat is two television sets.If these two countries specialize according to comparative advantage and then trade with each other:
(Multiple Choice)
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(36) The discovery of a significant new source of oil that can be exported will shift the:
(Multiple Choice)
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(33) Countries that exported a lot of gas or oil would see their exchange rates go up as a result.This in turn could make their manufacturing exports uncompetitive and possibly slow economic growth.This situation can be described as the:
(Multiple Choice)
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(42) The United States has a trade deficit when the value of the goods and services we import exceeds the value of the goods and services we export.
(True/False)
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(42) 
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