Exam 15: Exchange Rates and the Open Economy

If Sierra Leone has a comparative advantage in the production of coffee,and its previously closed economy is opened to trade coffee for imported steel,Sierra Leone's

(Multiple Choice)

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Question 121

-If the economy in the diagram above is open to trade,the world price of oil is $20 per barrel,and a $5 per-barrel tariff is levied per barrel of oil imported,then domestic production of oil equals _ million barrels and domestic consumption of oil equals _ million barrels.

(Multiple Choice)

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Question 122

Compared to the other G7 countries,Canada has a ratio of trade to GDP that is

(Multiple Choice)

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Question 123

The demand for jeans in a country is given by D = 100 - 0.6P,where P is the price of a pair of jeans.Supply by domestic producers is given by S = 20 + 0.4P.The world price of a pair of jeans equals $30 and this economy is open to trade.If a tariff of $10 per pair is placed on jeans imports,the quantity of jeans demanded domestically will change from ___ pairs with no tariff to _ pairs with the tariff.

(Multiple Choice)

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Question 124

The staples thesis maintains that Canada's economic development was driven by

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Question 125

The demand for laser printers in a country is given by D = 10,000 - 2P,where P is the price of a laser printer.Supply by domestic producers is given by S = 2,000 + 8P.If the world price of a laser printer equals $800 and this economy is open to trade,then this country will

(Multiple Choice)

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Question 126

Compared to a quota,a tariff on shoe imports

(Multiple Choice)

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Question 127

A country that trades with other countries is called a(n)__________ economy.

(Multiple Choice)

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Question 128

If a tariff is placed on a good,domestic producers of the good are _____,domestic consumers of the good are _,and the government _____ tax revenue.

(Multiple Choice)

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Question 129

If the equation for planned aggregate expenditure is given by PAE = 5,000 + 0.9Y and potential output is equal to 48,000,then there is a(n) gap equal to units,so if net exports by ,the economy will return to potential output.

(Multiple Choice)

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Question 130

The demand for laser printers in a country is given by D = 10,000 - 2P,where P is the price of a laser printer.Supply by domestic producers is given by S = 2,000 + 8P.If the world price of a laser printer equals $500 and this economy is open to trade,then this country will

(Multiple Choice)

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Question 131

The demand for shoes in a country is given by D = 60 - 0.5P,where P is the price of a pair of shoes.Supply by domestic producers is given by S = 20 + 0.5P.The world price of a pair of shoes equals $30 and this economy is open to trade.If a quota of 6 pair of shoes is placed on shoe imports,the quantity of shoes demanded domestically will change from pairs with no quota to _ pairs with the quota.

(Multiple Choice)

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Question 132

The demand for jeans in a country is given by D = 100 - 0.6P,where P is the price of a pair of jeans.Supply by domestic producers is given by S = 20 + 0.4P.The world price of a pair of jeans equals $30 and this economy is open to trade.If a quota of 40 pairs is placed on jeans imports,the quantity of jeans produced domestically will change from _ pairs with no quota to _ pairs with the quota.

(Multiple Choice)

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Question 133

The losers from trade are the _ and the _.

(Multiple Choice)

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Question 134

In the context of international trade,fair treatment is

(Multiple Choice)

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Question 135

According to the comparative advantage model of trade,to maximize its gains from trade,a nation should

(Multiple Choice)

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Question 136

Which of the following is NOT a factor that contributed to Argentina's economic recovery in the mid-2000s?

(Multiple Choice)

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Question 137

Most-favoured nation treatment is

(Multiple Choice)

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Question 138

-If the economy in the diagram above is open to trade,the world price of oil is $20 per barrel and the government places a $5 per-barrel tariff on oil imports,then the government will collect $________ million in oil tariff revenues.

(Multiple Choice)

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Question 139

In some recent years in Canada,exports and imports have each amounted to ________ of Canadian GDP.

(Multiple Choice)

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Question 140

Showing 121 - 140 of 143

If Sierra Leone has a comparative advantage in the production of coffee,and its previously closed economy is opened to trade coffee for imported steel,Sierra Leone's

-If the economy in the diagram above is open to trade,the world price of oil is $20 per barrel,and a $5 per-barrel tariff is levied per barrel of oil imported,then domestic production of oil equals _ million barrels and domestic consumption of oil equals _ million barrels.

Compared to the other G7 countries,Canada has a ratio of trade to GDP that is

The staples thesis maintains that Canada's economic development was driven by

The demand for laser printers in a country is given by D = 10,000 - 2P,where P is the price of a laser printer.Supply by domestic producers is given by S = 2,000 + 8P.If the world price of a laser printer equals $800 and this economy is open to trade,then this country will

Compared to a quota,a tariff on shoe imports

A country that trades with other countries is called a(n)__________ economy.

If a tariff is placed on a good,domestic producers of the good are _____,domestic consumers of the good are _,and the government _____ tax revenue.

If the equation for planned aggregate expenditure is given by PAE = 5,000 + 0.9Y and potential output is equal to 48,000,then there is a(n) gap equal to units,so if net exports by ,the economy will return to potential output.

The demand for laser printers in a country is given by D = 10,000 - 2P,where P is the price of a laser printer.Supply by domestic producers is given by S = 2,000 + 8P.If the world price of a laser printer equals $500 and this economy is open to trade,then this country will

The losers from trade are the _ and the _.

In the context of international trade,fair treatment is

According to the comparative advantage model of trade,to maximize its gains from trade,a nation should

Which of the following is NOT a factor that contributed to Argentina's economic recovery in the mid-2000s?

Most-favoured nation treatment is

-If the economy in the diagram above is open to trade,the world price of oil is $20 per barrel and the government places a $5 per-barrel tariff on oil imports,then the government will collect $________ million in oil tariff revenues.

In some recent years in Canada,exports and imports have each amounted to ________ of Canadian GDP.

Measuring Macroeconomic Performance: Output and Prices

Measuring Macroeconomic Performance: Saving and Wealth

Measuring Macroeconomic Performance: Wages, Employment and the Labour Market

Short-Term Economic Fluctuations

Spending and Output in the Short Run

Fiscal Policy

Money, Prices and the Reserve Bank

The Reserve Bank and the Economy

The Aggregate Demand - Aggregate Supply Model

Macroeconomic Policy

The Economy in the Long Run: an Introduction to Economic Growth

The Production Function Approach to Understanding Growth

Savings, Capital Formation and Comparative Economic Growth

International Trade

The Balance of Payments: Net Exports and International Capital Flows

Filters

Exam 15: Exchange Rates and the Open Economy

If Sierra Leone has a comparative advantage in the production of coffee,and its previously closed economy is opened to trade coffee for imported steel,Sierra Leone's

-If the economy in the diagram above is open to trade,the world price of oil is $20 per barrel,and a $5 per-barrel tariff is levied per barrel of oil imported,then domestic production of oil equals _______ million barrels and domestic consumption of oil equals _______ million barrels.

Compared to the other G7 countries,Canada has a ratio of trade to GDP that is

The staples thesis maintains that Canada's economic development was driven by

The demand for laser printers in a country is given by D = 10,000 - 2P,where P is the price of a laser printer.Supply by domestic producers is given by S = 2,000 + 8P.If the world price of a laser printer equals $800 and this economy is open to trade,then this country will

Compared to a quota,a tariff on shoe imports

A country that trades with other countries is called a(n)__________ economy.

If a tariff is placed on a good,domestic producers of the good are _________,domestic consumers of the good are _________,and the government _________ tax revenue.

If the equation for planned aggregate expenditure is given by PAE = 5,000 + 0.9Y and potential output is equal to 48,000,then there is a(n)________ gap equal to ________ units,so if net exports ________ by ________,the economy will return to potential output.

The demand for laser printers in a country is given by D = 10,000 - 2P,where P is the price of a laser printer.Supply by domestic producers is given by S = 2,000 + 8P.If the world price of a laser printer equals $500 and this economy is open to trade,then this country will

The losers from trade are the _________ and the _________.

In the context of international trade,fair treatment is

According to the comparative advantage model of trade,to maximize its gains from trade,a nation should

Which of the following is NOT a factor that contributed to Argentina's economic recovery in the mid-2000s?

Most-favoured nation treatment is

-If the economy in the diagram above is open to trade,the world price of oil is $20 per barrel and the government places a $5 per-barrel tariff on oil imports,then the government will collect $________ million in oil tariff revenues.

In some recent years in Canada,exports and imports have each amounted to ________ of Canadian GDP.

Measuring Macroeconomic Performance: Output and Prices

Measuring Macroeconomic Performance: Saving and Wealth

Measuring Macroeconomic Performance: Wages, Employment and the Labour Market

Short-Term Economic Fluctuations

Spending and Output in the Short Run

Fiscal Policy

Money, Prices and the Reserve Bank

The Reserve Bank and the Economy

The Aggregate Demand - Aggregate Supply Model

Macroeconomic Policy

The Economy in the Long Run: an Introduction to Economic Growth

The Production Function Approach to Understanding Growth

Savings, Capital Formation and Comparative Economic Growth

International Trade

The Balance of Payments: Net Exports and International Capital Flows

Filters

-If the economy in the diagram above is open to trade,the world price of oil is $20 per barrel,and a $5 per-barrel tariff is levied per barrel of oil imported,then domestic production of oil equals _ million barrels and domestic consumption of oil equals _ million barrels.

If a tariff is placed on a good,domestic producers of the good are _____,domestic consumers of the good are _,and the government _____ tax revenue.

If the equation for planned aggregate expenditure is given by PAE = 5,000 + 0.9Y and potential output is equal to 48,000,then there is a(n) gap equal to units,so if net exports by ,the economy will return to potential output.

The losers from trade are the _ and the _.