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Economics
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13 Dec 2019

MULTIPLE CHOICE

Which of the following is NOT true about trade?

  1. Trade will cause expansion in the export-orientedsector.

  1. Trade will cause contraction in the import-competingsector.

  1. Trade occurs because of similarities in the availability offactor inputs across countries and differences in the proportionsof those factors that are used in producing differentproducts.

  1. None of the above.

Please explain. Thank you!

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Related questions

Please answer all of the following multiple choice questions... Thank you!

8.

Hours to Produce One Unit
Worker hours to produce yarn Worker hours to produce fabric Additional worker hours to produce fabric instead of yarn
Country A

8

12

?
Country B

4

13

?

© 2013 FLVS

Based on the data in the chart, which of the following scenarios presents the most efficient use of resources? (5 points)
Country A produces yarn and fabric, and Country B imports both
Country A produces yarn, and Country B produces fabric
Country B produces yarn, and Country A produces fabric
Country B produces yarn and fabric, and Country A imports both
9.
Worker hours to produce one unit of oil Worker hours to produce one unit of natural gas
Brazil

8

4
Argentina

10

2
Mexico

7

3
United States

6

1

According to the chart, which country has an absolute advantage over the other countries in oil production? (5 points)
Brazil
Mexico
Argentina
United States
10. U.S. companies have made fewer manufacturing contracts with China in the last few years, preferring other countries in the region. Which of the following is a potential reason? (5 points)
China has most-favored-nation trade status with the United States.
China has large reserves of cheap labor and can produce inexpensive goods.
China's standard of living has increased, and workers are requesting more pay.
Shipping costs from China over the Pacific Ocean have decreased.
11. The U.S. government wants to restrict Nation A's access to weapons-making materials. Which of the following actions will it most likely take? (5 points)
Establish a free-trade zone with Nation A
Impose tariffs on certain goods imported from Nation A
Institute an embargo on trade in certain items with Nation A
Place a quota on certain types of goods Nation A can export
12. Because the United States has an embargo on Cuba, (5 points)
the United States regularly increases the taxes on Cuban imports
Cuba exports the majority of Cuban products to American companies
virtually no Cuban products are legally available in the United States
Cuba must sell products directly to state governments in the United States
13. Globalization increases the interdependency of the world's countries. Inflation in one country would most likely (5 points)
not impact inflation in other countries
cause deflation in other countries
result in stagflation in other countries
relate to inflation in other countries

31. A country's tax system influences the attractiveness of investing in that country and affects the relative level of profitability for an MNC.

a. True

b. False

32. Points inside a production possibilities frontier represent

a. unattainable production combinations

b. efficiency

c. situations where supply exceeds demand

d. unemployment of resources

33. Firms in a high-wage nation like the U.S. can compete effectively with imports from low-wage nations if

a. the U.S. reduces tariffs on imports

b. low-wage nations impose tariffs on U.S. made goods

c. labor productivity is higher in the low-wage nation

d. labor productivity is higher in the U.S.

34. Assume that production in the United States is valued at $100,000. National income is therefore $100,000. Of their income, workers save $2000, pay $6,000 in taxes, spend $89,000 on consumer goods, and spend $2000 on imports. Businesses spend $5,000 in new investment spending. And, foreigners spend $1000 on exports. To avoid any problems of inflation or unemployment, the government should have a budget deficit or surplus of:

a. $2,000 surplus

b. $1,000 deficit

c. $2,000 deficit

d. $1000 surplus

e. $0 deficit

35. Autarky means-----------------------------------------------------------------

a. the absence of government

b. lack of agriculture

c. self-sufficient, in the absence of international trade

d. short of exchange rates

36. The more people there are----------------------, the less the public as a whole will spend on goods and services.

a. unemployed

b. underemployed

c. employed

d. as discouraged workers

37, Which of the following theories holds that countries will produce and export products that use large amounts of production factors that they have in abundance?

a. Mercantilism

b. The theory of absolute advantage

c. The factor endowment theory

d. None of the above.

38. Suppose that a consumer has a marginal propensity to consume of 0.79. If this consumer earns an extra $1220, her saving would be expected to increase by-----------------------------

39. Many countries in Asia, Africa, and South America-----------------------

a. Are developing countries

b. Are industrialized nations

c. Have a high demand for nonessential products

d. Do not trade

40. Which two of the following are regarded as the main aims of the World Trade Organization (WTO)?

a) To eliminate discrimination in world trade

b) To provide financial assistance to countries with debt

c) To reduce tariff barriers

d) To make infant industry protection illegal

e) To help give preferences to smaller economies

b) and e) a) and c) a) and d) c) and e) b) and d)

41. Last year Sophia's nominal income increased by 12% while the price level rose by 5.5%. Consequently, Sophia's real income:

a. rose by approximately 7%

b. fell by approximately 1%

c. rose by approximately 2%

d. ------------------------------------

42. Consumer surplus

a. is always positive.

b. for a particular unit of consumption is computed by taking the difference between quantity demand and quantity supplied.

c. for all units consumed is the area below demand and below market price over all the units consumed.

d. added to producer surplus provides a measure of the net gain to society from the production and consumption of the good.

43. A decline in Real GDP for six or more consecutive months is called-------------------------------

a. A trough

b. A recession

c. An expansion

d. A recovery

44. What do we call the situation where capital grows faster than the labor force?

a. economic growth

b. technological change

c. productivity growth

d. capital deepening

45. The terms of trade are-------------------------------------------

a. the cost of transportation between countries

b. the ratio of wages in two countries

c. the terms which are used in the trade negotiations

d. the rate at which two products can be exchanged

Energy Choices

Worldwide energy consumption varies dramatically, but the impacts are shared by all. The most commonly used fuel sources for energy around the world are the fossil fuels: coal, oil, and natural gas. Combustion of fossil fuels releases pollutants to the atmosphere, where the emissions from all countries combine to cause local, regional, and global issues. One of the primary pollutants of concern is carbon dioxide, a greenhouse gas. Carbon dioxide emissions are responsible for climate change and governments around the world have taken steps to control pollution, but not all countries are successful in reducing carbon emissions.

While all countries produce pollution and emit greenhouse gasses, the emissions are greatly unequal across the globe. Consider what kinds of factors would determine how much energy is used by a country, a region, a household, or an individual. What factors would influence the fuel choices made by these people and institutions?

Conduct research to determine the common fuel sources, emissions, and total energy consumption by the United States and a developing country of your choice, such as China, India, or Brazil.

CIA. (2015). The world factbook. Retrieved fromhttps://www.cia.gov/library/publications/the-world-factbook/

U.S. Energy Information Administration. (2015). International energy statistics. Retrieved fromhttp://www.eia.gov/cfapps/ipdbproject/IEDIndex3.cfm?tid=44&pid=44&aid=2

· What are the primary sources of emissions? What is the industrial or agricultural profile of the country?

· What are the similarities and differences in the fuel sources, emissions, and consumption between the two countries?

· What are the countries’ levels of involvement in worldwide emissions regulations?

· Discuss solutions or regulations to energy use in high-demand countries. How can high-use and low-use countries work together to reduce overall emissions?

· In working together to make these reductions, how would you address possible cultural differences and diversity concepts that will emerge because of this partnership? Describe how low and high use countries can bridge cultural differences through strategic partnerships.

· Support your arguments with documented evidence from credible sources using APA formatting and an APA style reference page.

I am looking for some notes on how to get this essay of 1000 words or more started. Please help by giving good detailed notes for each question. I would really appreciate some help so I can get started on making my research paper. Any help is much appreciated I am stuck on how to approach this topic!

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