Exam 3: Gains and Losses From Trade in the Specific-Factors Model

As a nation opens trade, the relative prices of products it Exports will and the relative prices of Products it imports will _.

(Multiple Choice)

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Question 101

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in agricultural output. What will happen to the return (rental) on capital when Trade occurs?

(Multiple Choice)

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Question 102

The absence of trade is known as:

(Multiple Choice)

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Question 103

A "specific" factor of production is:

(Multiple Choice)

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Question 104

Coffee prices fell in the 1990s because of:

(Multiple Choice)

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Question 105

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in manufactured output. Which specific factor will gain after trade occurs?

(Multiple Choice)

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Question 106

The specificfactors model is termed a "shortrun" model Because:

(Multiple Choice)

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Question 107

Consider the following information for a hypothetical Economy: If the price per bicycle is $20 and the wage Per worker is $40, then what is the marginal product of Labor?

(Multiple Choice)

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Question 108

As a nation begins to export, its own relative price of Exported goods will , and as it imports other Goods, the relative price of those will , thus _______ its standard of living.

(Multiple Choice)

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Question 109

One reason that nations impose agricultural quotas and Other restrictions is:

(Multiple Choice)

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Question 110

In the specificfactors model, suppose that a country has A comparative advantage in manufacturing output.Will Workers be better or worse off following the opening of Trade with other countries?

(Multiple Choice)

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Question 111

Suppose that the wage is $20 per hour in a twosector (manufacturing and agriculture) specificfactors model. Currently, the prices of manufactured and agricultural outputs are $5 and $1, respectively; the marginal product of labor in the manufactured sector is 6 units per hour; and the marginal product of labor in the agricultural sector is 10 units per hour.What will happen to the distribution of labor between the two sectors?

(Essay)

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Question 112

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in manufactured output. Will workers be better or worse off following the opening Of trade with other countries?

(Multiple Choice)

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Question 113

Suppose that the wage is $20 per hour in a twosector (manufacturing and agriculture) specificfactors model. Currently, the prices of manufactured and agricultural outputs are $5 and $1, respectively; the marginal product of labor in the manufactured sector is 6 units per hour; and the marginal product of labor in the agricultural sector is 10 units per hour.What will happen to the rentals on land and capital?

(Essay)

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Question 114

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in manufactured output. What is the effect on the return of land after trade Occurs?

(Multiple Choice)

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Question 115

Because of the "law of diminishing marginal returns" to A factor, as more labor is employed, its marginal Product:

(Multiple Choice)

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Question 116

What is the primary benefit to coffee producers that fairtrade coffee groups such as TransFair USA offer? What is the primary benefit to consumers that such groups offer?

(Essay)

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Question 117

Under the 2009 jobs stimulus bill signed by President Obama, who can apply for aid after losing their job due To import competition?

(Multiple Choice)

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Question 118

The argument that trade generates gains for all workers May NOT be true because:

(Multiple Choice)

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Question 119

Under free trade and comparative advantage, the home Country:

(Multiple Choice)

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Question 120

Showing 101 - 120 of 122

As a nation opens trade, the relative prices of products it Exports will and the relative prices of Products it imports will _.

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in agricultural output. What will happen to the return (rental) on capital when Trade occurs?

The absence of trade is known as:

A "specific" factor of production is:

Coffee prices fell in the 1990s because of:

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in manufactured output. Which specific factor will gain after trade occurs?

The specificfactors model is termed a "shortrun" model Because:

Consider the following information for a hypothetical Economy: If the price per bicycle is $20 and the wage Per worker is $40, then what is the marginal product of Labor?

As a nation begins to export, its own relative price of Exported goods will , and as it imports other Goods, the relative price of those will , thus _______ its standard of living.

One reason that nations impose agricultural quotas and Other restrictions is:

In the specificfactors model, suppose that a country has A comparative advantage in manufacturing output.Will Workers be better or worse off following the opening of Trade with other countries?

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in manufactured output. Will workers be better or worse off following the opening Of trade with other countries?

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in manufactured output. What is the effect on the return of land after trade Occurs?

Because of the "law of diminishing marginal returns" to A factor, as more labor is employed, its marginal Product:

What is the primary benefit to coffee producers that fairtrade coffee groups such as TransFair USA offer? What is the primary benefit to consumers that such groups offer?

Under the 2009 jobs stimulus bill signed by President Obama, who can apply for aid after losing their job due To import competition?

The argument that trade generates gains for all workers May NOT be true because:

Under free trade and comparative advantage, the home Country:

The Global Economy

Trade and Technology: the Ricardian Model

Trade and Resources: the Heckscher-Ohlin Model

Movement of Labor and Capital Between Countries

Increasing Returns to Scale and Monopolistic Competition

Import Tariffs and Quotas Under Perfect Competition

Import Tariffs and Quotas Under Imperfect Competition

International Agreements: Trade, Labor, and the Environment

Introduction to Exchange Rates and the Foreign Exchange Market

Exchange Rates I: the Monetary Approach in the Long Run

Filters

Exam 3: Gains and Losses From Trade in the Specific-Factors Model

As a nation opens trade, the relative prices of products it Exports will __________ and the relative prices of Products it imports will ___________.

Suppose that the Home country in the two­sector (manufacturing and agriculture) specific­factors model Has a comparative advantage in agricultural output. What will happen to the return (rental) on capital when Trade occurs?

The absence of trade is known as:

A "specific" factor of production is:

Coffee prices fell in the 1990s because of:

Suppose that the Home country in the two­sector (manufacturing and agriculture) specific­factors model Has a comparative advantage in manufactured output. Which specific factor will gain after trade occurs?

The specific­factors model is termed a "short­run" model Because:

Consider the following information for a hypothetical Economy: If the price per bicycle is $20 and the wage Per worker is $40, then what is the marginal product of Labor?

As a nation begins to export, its own relative price of Exported goods will ______, and as it imports other Goods, the relative price of those will ______, thus ___________ its standard of living.

One reason that nations impose agricultural quotas and Other restrictions is:

In the specific­factors model, suppose that a country has A comparative advantage in manufacturing output.Will Workers be better or worse off following the opening of Trade with other countries?

Suppose that the Home country in the two­sector (manufacturing and agriculture) specific­factors model Has a comparative advantage in manufactured output. Will workers be better or worse off following the opening Of trade with other countries?

Suppose that the Home country in the two­sector (manufacturing and agriculture) specific­factors model Has a comparative advantage in manufactured output. What is the effect on the return of land after trade Occurs?

Because of the "law of diminishing marginal returns" to A factor, as more labor is employed, its marginal Product:

What is the primary benefit to coffee producers that fair­trade coffee groups such as TransFair USA offer? What is the primary benefit to consumers that such groups offer?

Under the 2009 jobs stimulus bill signed by President Obama, who can apply for aid after losing their job due To import competition?

The argument that trade generates gains for all workers May NOT be true because:

Under free trade and comparative advantage, the home Country:

The Global Economy

Trade and Technology: the Ricardian Model

Trade and Resources: the Heckscher-Ohlin Model

Movement of Labor and Capital Between Countries

Increasing Returns to Scale and Monopolistic Competition

Import Tariffs and Quotas Under Perfect Competition

Import Tariffs and Quotas Under Imperfect Competition

International Agreements: Trade, Labor, and the Environment

Introduction to Exchange Rates and the Foreign Exchange Market

Exchange Rates I: the Monetary Approach in the Long Run

Filters

As a nation opens trade, the relative prices of products it Exports will and the relative prices of Products it imports will _.

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in agricultural output. What will happen to the return (rental) on capital when Trade occurs?

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in manufactured output. Which specific factor will gain after trade occurs?

The specificfactors model is termed a "shortrun" model Because:

As a nation begins to export, its own relative price of Exported goods will , and as it imports other Goods, the relative price of those will , thus _______ its standard of living.

In the specificfactors model, suppose that a country has A comparative advantage in manufacturing output.Will Workers be better or worse off following the opening of Trade with other countries?

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in manufactured output. Will workers be better or worse off following the opening Of trade with other countries?

Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model Has a comparative advantage in manufactured output. What is the effect on the return of land after trade Occurs?

What is the primary benefit to coffee producers that fairtrade coffee groups such as TransFair USA offer? What is the primary benefit to consumers that such groups offer?