What if all countries/ nations decide not to trade with each other. Is it feasible or not? Elaborate. Support your answer with facts/reasoning.

What does it mean for the United States to be one of the world most indebted countries? Should this be a concern for government policy makers? Elaborate. Support your answer with facts/reasoning.

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Kristelle BalandoLv10

29 Sep 2019

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Why it would be foolish for the United States to enact tariffs and embargos designed to reduce the trade deficit with other countries and if a nation has a trade surplus with the rest of the world (its current account), what does that mean about its capital flow? (capital account)

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Which statement would most likely be made by a supporter of sanctions as a tool of foreign policy?

A. Military intervention is the most effective way to affect foreign governments.

B. Other countries should not be required to follow the wishes of the United States.

C. Free trade is the best way to promote international peace.

D. Citizens will pressure their government for change if it will improve their lives.

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215. Economists examine pollution from the perspective of the:
A) preferences of people.
B) intensity and duration of the harm to resources.
C) desires of government bureaucrats.
D) intent of business firms in the maximization of profits.

212. Free trade is beneficial because it:
A) reduces competition.
B) leads to less use of the world's resources.
C) results in a wider array of consumer products.
D) leads to the production of free goods.

206. If a country has a comparative advantage in the production of a good:
A) it can produce that good at a lower opportunity cost.
B) it will find trade most beneficial when it trades with another country that has a comparative advantage in the same good.
C) it will not find trade beneficial because other countries won't have a comparative advantage in other goods.
D) it must also have an absolute advantage in the good.

203. Which of the following statements is true?
A) Nations have generally moved toward freer international trade policies over the past few decades.
B) Nations all over the world have recently raised trade barriers.
C) Eastern Europe and the Former Soviet Union countries have reduced trade in the last decade.
D) NAFTA lowered trade barriers between the United States and Mexico but raised them between the United States and Canada.

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