Question 1

A consequence of increasing marginal costs of producing digital music players in Japan is

Accepted Answer

A)  Japan will not export digital music players. 
B)  Japan will stop short of complete specialization in the production of digital music players. 
C)  Japan will import digital music players from countries that don't experience increasing marginal costs. 
D)  Japan will likely impose trade restrictions on imported digital music players. 
A)  Japan will not export digital music players. 
B)  Japan will stop short of complete specialization in the production of digital music players. 
C)  Japan will import digital music players from countries that don't experience increasing marginal costs. 
D)  Japan will likely impose trade restrictions on imported digital music players.

Question 2

Which of the following statements is true?

Accepted Answer

A)  Exports benefit trading countries because exports create jobs. Imports do not benefit trading countries because they result in a loss of jobs. 
B)  Each year China exports about 50 percent of its wheat crop and 40 percent of its rice crop. 
C)  Most of the leading exporting countries are large, high-income countries. 
D)  All sectors of the U.S. economy are affected equally by international trade. 
A)  Exports benefit trading countries because exports create jobs. Imports do not benefit trading countries because they result in a loss of jobs. 
B)  Each year China exports about 50 percent of its wheat crop and 40 percent of its rice crop. 
C)  Most of the leading exporting countries are large, high-income countries. 
D)  All sectors of the U.S. economy are affected equally by international trade.

Question 3

Suppose that American firms claim that protectionism in Canada is on the rise as the Canadian government attempts to protect its infant industries with a "Buy Canadian" provision.This policy,similar to the original "Buy American" provision in the 2009 U.S.stimulus bill,is likely to cause

Accepted Answer

A)  exporting countries to retaliate by placing trade barriers on Canadian imports. 
B)  Canadian manufacturers to become more efficient. 
C)  Canadian companies to pay lower prices for protected products. 
D)  most countries to reduce their own trade barriers to be able to better compete with Canadian imports at home. 
A)  exporting countries to retaliate by placing trade barriers on Canadian imports. 
B)  Canadian manufacturers to become more efficient. 
C)  Canadian companies to pay lower prices for protected products. 
D)  most countries to reduce their own trade barriers to be able to better compete with Canadian imports at home.

Question 4

Disagreements about whether the U.S.government should regulate international trade

Accepted Answer

A)  began during the Great Depression. 
B)  began after World War I when government officials no longer believed in isolationism. 
C)  date back to the beginning of the country. 
D)  did not occur until the end of the Mexican War in 1848. 
A)  began during the Great Depression. 
B)  began after World War I when government officials no longer believed in isolationism. 
C)  date back to the beginning of the country. 
D)  did not occur until the end of the Mexican War in 1848.

A consequence of increasing marginal costs of producing digital music players in Japan is

Which of the following statements is true?

Suppose that American firms claim that protectionism in Canada is on the rise as the Canadian government attempts to protect its infant industries with a "Buy Canadian" provision.This policy,similar to the original "Buy American" provision in the 2009 U.S.stimulus bill,is likely to cause

Disagreements about whether the U.S.government should regulate international trade

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

Externalities, environmental Policy, and Public Goods

Elasticity: The Responsiveness of Demand and Supply

The Economics of Health Care

Firms, the Stock Market, and Corporate Governance

Consumer Choice and Behavioral Economics

Technology, production, and Costs

Firms in Perfectly Competitive Markets

Monopolistic Competition: The Competitive Model in a More Realistic Setting

Oligopoly: Firms in Less Competitive Markets

Monopoly and Antitrust Policy

Pricing Strategy

The Markets for Labor and Other Factors of Production

Public Choice, taxes, and the Distribution of Income

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

Filters

Exam 9: Comparative Advantage and the Gains From International Trade

A consequence of increasing marginal costs of producing digital music players in Japan is

Which of the following statements is true?

Suppose that American firms claim that protectionism in Canada is on the rise as the Canadian government attempts to protect its infant industries with a "Buy Canadian" provision.This policy,similar to the original "Buy American" provision in the 2009 U.S.stimulus bill,is likely to cause

Disagreements about whether the U.S.government should regulate international trade

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

Externalities, environmental Policy, and Public Goods

Elasticity: The Responsiveness of Demand and Supply

The Economics of Health Care

Firms, the Stock Market, and Corporate Governance

Consumer Choice and Behavioral Economics

Technology, production, and Costs

Firms in Perfectly Competitive Markets

Monopolistic Competition: The Competitive Model in a More Realistic Setting

Oligopoly: Firms in Less Competitive Markets

Monopoly and Antitrust Policy

Pricing Strategy

The Markets for Labor and Other Factors of Production

Public Choice, taxes, and the Distribution of Income

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

Filters