A) makes domestic consumers worse off. B) makes both domestic producers and consumers better off. C) makes everyone worse off. D) makes domestic producers worse off. A) makes domestic consumers worse off. B) makes both domestic producers and consumers better off. C) makes everyone worse off. D) makes domestic producers worse off.

A) a limit placed on the quantity of goods that can be imported into a country. B) a tax imposed by a government on goods imported into a country. C) a subsidy granted to importers of a vital input. D) a health and safety restriction imposed on an imported product. A) a limit placed on the quantity of goods that can be imported into a country. B) a tax imposed by a government on goods imported into a country. C) a subsidy granted to importers of a vital input. D) a health and safety restriction imposed on an imported product.

A) harms consumers but helps exporting firms. B) helps consumers but harms exporting firms and their workers. C) helps consumers but hurts firms that are less efficient than their foreign competitors. D) helps consumers and firms that compete with their foreign competitors. A) harms consumers but helps exporting firms. B) helps consumers but harms exporting firms and their workers. C) helps consumers but hurts firms that are less efficient than their foreign competitors. D) helps consumers and firms that compete with their foreign competitors.

Exam 7: Comparative Advantage and the Gains From International Trade

Figure 7-2 Suppose the U.S.government imposes a $0.75 per pound tariff on coffee imports.Figure 7-2 shows the impact of this tariff. -Refer to Figure 7-2.With the tariff in place,the United States consumes

(Multiple Choice)

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Question 101

Figure 7-2 Suppose the U.S.government imposes a $0.75 per pound tariff on coffee imports.Figure 7-2 shows the impact of this tariff. -Refer to Figure 7-2.With the tariff in place,the United States produces

(Multiple Choice)

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Question 102

Figure 7-1 Figure 7-1 shows the U.S.demand and supply for leather footwear. -Refer to Figure 7-1.Under autarky,the consumer surplus is area

(Multiple Choice)

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Question 103

As a percentage of GDP,imports are greater than exports for which of the following countries?

(Multiple Choice)

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Question 104

A quota

(Multiple Choice)

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Question 105

Trade that is within a country or between countries is based on the principle of

(Multiple Choice)

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Question 106

Table 7-6 Output per hour Production and Production of work Consumption without Trade with Trade Estonia and Morocco can produce both swords and belts.Each country has a total of 40 available labor hours for the production of swords and belts.Table 7-6 shows the output per hour of work,the production and consumption quantities without trade,and the production numbers with trade. -Refer to Table 7-6.If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded,how many belts will Morocco gain compared to the "without trade" numbers?

(Multiple Choice)

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Question 107

Figure 7-2 Suppose the U.S.government imposes a $0.75 per pound tariff on coffee imports.Figure 7-2 shows the impact of this tariff. -Refer to Figure 7-2.With the tariff in place,the United States

(Multiple Choice)

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Question 108

When Sophie,a French citizen,purchases a Dell computer in Paris,France that was produced in Texas,the purchase is

(Multiple Choice)

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Question 109

Table 7-6 Output per hour Production and Production of work Consumption without Trade with Trade Estonia and Morocco can produce both swords and belts.Each country has a total of 40 available labor hours for the production of swords and belts.Table 7-6 shows the output per hour of work,the production and consumption quantities without trade,and the production numbers with trade. -Refer to Table 7-6.If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded,how many swords will Estonia gain compared to the "without trade" numbers?

(Multiple Choice)

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Question 110

Table 7-6 Output per hour Production and Production of work Consumption without Trade with Trade Estonia and Morocco can produce both swords and belts.Each country has a total of 40 available labor hours for the production of swords and belts.Table 7-6 shows the output per hour of work,the production and consumption quantities without trade,and the production numbers with trade. -Refer to Table 7-6.With trade,what is the total gain in belt production?

(Multiple Choice)

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Question 111

Table 7-5 Table 7-5 shows the output per week for pens and pencils by Tran and Farah. -Refer to Table 7-5. a.Which person has an absolute advantage in the production of pens? pencils? b.Which person has a comparative advantage in the production of pens? c.Which person has a comparative advantage in the production of pencils?

(Essay)

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Question 112

A quota is

(Multiple Choice)

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Question 113

Table 7-1 Rob Crusoe and Bill Friday spent their week-long vacation on a desert island where they had to find and prepare their own food.Rob and Bill spent one day each fishing and picking berries.The table lists the pounds of output Rob and Bill produced. -Refer to Table 7-1.Use the table above to select the statement that accurately interprets the data in the table.

(Multiple Choice)

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Question 114

A tax imposed by a government on imports of a good into a country is called

(Multiple Choice)

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Question 115

International trade

(Multiple Choice)

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Question 116

Governments sometimes erect barriers to trade other than tariffs and quotas.Which of the following is not an example of this type of trade barrier?

(Multiple Choice)

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Question 117

Table 7-3 Mateo and Celeste produce custom saddles and spurs.Table 7-3 lists the number of saddles and pairs of spurs Mateo and Celeste can each produce in one month. -Refer to Table 7-3.Select the statement that accurately interprets the data in the table.

(Multiple Choice)

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Question 118

In the past two decades the United States lost its comparative advantage in automobiles to Japan.What factor was most responsible for the development of Japan's comparative advantage in automobiles?

(Multiple Choice)

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Question 119

One reason a country does not specialize completely in production is that production of most goods involves increasing opportunity costs.

(True/False)

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Question 120

Showing 101 - 120 of 188

Figure 7-2 Suppose the U.S.government imposes a $0.75 per pound tariff on coffee imports.Figure 7-2 shows the impact of this tariff. -Refer to Figure 7-2.With the tariff in place,the United States consumes

Figure 7-2 Suppose the U.S.government imposes a $0.75 per pound tariff on coffee imports.Figure 7-2 shows the impact of this tariff. -Refer to Figure 7-2.With the tariff in place,the United States produces

Figure 7-1 Figure 7-1 shows the U.S.demand and supply for leather footwear. -Refer to Figure 7-1.Under autarky,the consumer surplus is area

As a percentage of GDP,imports are greater than exports for which of the following countries?

A quota

Trade that is within a country or between countries is based on the principle of

Figure 7-2 Suppose the U.S.government imposes a $0.75 per pound tariff on coffee imports.Figure 7-2 shows the impact of this tariff. -Refer to Figure 7-2.With the tariff in place,the United States

When Sophie,a French citizen,purchases a Dell computer in Paris,France that was produced in Texas,the purchase is

A quota is

A tax imposed by a government on imports of a good into a country is called

International trade

Governments sometimes erect barriers to trade other than tariffs and quotas.Which of the following is not an example of this type of trade barrier?

Table 7-3 Mateo and Celeste produce custom saddles and spurs.Table 7-3 lists the number of saddles and pairs of spurs Mateo and Celeste can each produce in one month. -Refer to Table 7-3.Select the statement that accurately interprets the data in the table.

In the past two decades the United States lost its comparative advantage in automobiles to Japan.What factor was most responsible for the development of Japan's comparative advantage in automobiles?

One reason a country does not specialize completely in production is that production of most goods involves increasing opportunity costs.

Economics: Foundations and Models

Trade-Offs, Comparative Advantage, and the Market System

Where Prices Come From: The Interaction of Demand and Supply

Economic Efficiency, Government Price Setting, and Taxes

The Economics of Health Care

Firms, the Stock Market, and Corporate Governance

GDP: Measuring Total Production and Income

Unemployment and Inflation

Economic Growth, the Financial System, and Business Cycles

Long-Run Economic Growth: Sources and Policies

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money,Banks,and the Federal Reserve System

Monetary Policy

Fiscal Policy

Inflation, Unemployment, and Federal Reserve Policy

Macroeconomics in an Open Economy

The International Financial System

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