Ready to test your Knowledge?
Try out our new practice tests completely free!
exam preparation banner icon

Economics-Macroeconomics

Business

Quiz 15 :

International Trade Policy

Quiz 15 :

International Trade Policy

search
arrow
The fundamental force that drives international trade is
Free
Multiple Choice
Answer:

Answer:

A

Tags
Choose question tag
close menu
arrow
img The figure shows the market for shirts in the United States, where D is the domestic demand curve and S is the domestic supply curve. The world price is $20 per shirt. -In the figure above, with international trade the United States ________ million shirts per year.
Free
Multiple Choice
Answer:

Answer:

A

Tags
Choose question tag
close menu
arrow
Based on the table below, at what world price would the country export? img
Free
Multiple Choice
Answer:

Answer:

A

Tags
Choose question tag
close menu
arrow
Who benefits from imports?
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
Comparative advantage implies that a country will
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
The United States decides to follow its comparative advantage and specialize in the production of airplanes. Which of the following will occur?
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
When the principle of comparative advantage is used to guide trade, then a country will specialize by producing only
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
In a market open to international trade, at the world price the quantity demanded is 150 and quantity supplied is 200. This country will
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
img The figure shows the market for helicopters in the United States, where D is the domestic demand curve and S is the domestic supply curve. The United States trades helicopters with the rest of the world at a price of $36 million per helicopter. -In the figure above, with international trade U.S. companies buy ________ helicopters per year.
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
img The figure shows the market for helicopters in the United States, where D is the domestic demand curve and S is the domestic supply curve. The United States trades helicopters with the rest of the world at a price of $36 million per helicopter. -In the figure above, with international trade ________ helicopters per year are produced in the United States.
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
Suppose the world price of a good is $4. Based on the table below, the country will img
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
A country specializes in the production of goods for which it has a comparative advantage. We find that
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
img The figure shows the market for shirts in the United States, where D is the domestic demand curve and S is the domestic supply curve. The world price is $20 per shirt. -In the figure above, with international trade Americans buy ________ million shirts per year.
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
Based on the table below, at what world price would the country import the good? img
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
Consider a market that, with no international trade, is initially in equilibrium with quantity demanded equal to quantity supplied at a price of $20. If the world price of the good is $10 and the country opens up to international trade then in this market
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
Comparative advantage implies that a country will
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
Prior to international trade, if country A has a lower price of good X than does country B, then we know definitely that
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
Consider a market that sells some of its goods as exports. Who does NOT benefit?
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
img The figure shows the market for shirts in the United States, where D is the domestic demand curve and S is the domestic supply curve. The world price is $20 per shirt. -In the figure above, with international trade ________ million shirts per year are produced in the United States.
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
The fundamental force that drives international trade is
Multiple Choice
Answer:
Tags
Choose question tag
close menu
Showing 1 - 20 of 208