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ECON 102 Economics 2 – Microeconomics Quiz 23

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Country A limits other nation's exports to Country A to 1,000 tons of coal annually. This is an example of a(n):

Answer the next question(s) on the basis of the following domestic supply and demand schedules for a product. Suppose that the world price of the product is $1.

Refer to the above diagrams. The solid lines are production possibilities curves; the dashed lines are trading possibilities curves. The opportunity cost of producing a:

158. The World Trade Organization (WTO) is an international organization designed to provide short-term advances of foreign monies to those nations faced with trade deficits. Select one:

The gain from international trade is: Select one:

A nation's export supply curve is downsloping and its import demand curve is upsloping. Select one:

In comparing a tariff and an import quota we find that: Select one:

United States exports of goods and services (on a national income account basis) are about:

Answer the next question(s) on the basis of the following production possibilities tables for two countries, Latalia and Trombonia:

(Last Word) Which of the following groups is most likely to support the World Trade Organization (WTO)?

Tariffs create larger gains to domestic producers than losses to domestic consumers. Select one:

Which of the following statements is false

 

The percentage of the United States' domestic output that is derived from international trade is higher than that for any other industrially advanced nation.

Answer the next question(s) on the basis of the following data for the hypothetical nations of Alpha and Beta. Qs is domestic quantity supplied and Qd is domestic quantity demanded.

A tariff can best be described as: Select one:

Answer the next question(s) on the basis of the following information. Assume that by devoting all its resources to the production of X, nation Alpha can produce 40 units of X. By devoting all its resources to Y, Alpha can produce 60Y. Comparable figures for nation Beta

If two nations have straight-line production possibilities curves:

Answer the next question(s) on the basis of the following information about the cost ratios for two products–fish (F) and chicken (C)–in Singsong and Harmony. Assume that production occurs under conditions of constant costs and these are the only two nations in the world.

Offshoring often results from: Select one:

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