- ECON 102 Economics 2 – Microeconomics Quiz 5
As a percentage of GDP (total output), U.S. exports are: Select one:
Import quotas are taxes or duties on imported products. Select one:
Refer to the above data. If Alpha was producing at alternative B and Omega was at alternative C before trade, the gain from specialization and trade would be:
Terms of trade of 1X=5Y will be acceptable to two countries that have domestic opportunity costs of 1X=4Y and 1X=1Y, respectively.
Which of the following sets of countries were among those admitted to the European Union in 2004?
France, Germany, and Italy are all members of the Euro zone. Select one:
If yesterday $1 would buy 800 South Korean won, but today $1 will only buy 790 won; the: Select one:
The European Union (EU) is a free trade zone comprising all the nations of eastern and western Europe.
The above data would graph as: Select one:
In terms of absolute dollar volume, the world's leading export nations are
The main problem posed by trade blocs for nonmember nations is that: Select one:
Mexican importers are suppliers of pesos in the foreign exchange market
The primary economic advantage of the European Union (EU) to its members is that: Select one:
The physical export of motorcycles from the United States to Mexico best illustrates
The major goods imports of the United States (in dollar volume) are: Select one:
Depreciation of the dollar will:
Proponents of the WTO argue that free international trade and investment will: Select one:
Answer the next question(s) on the basis of the following production possibilities tables for countries Alpha and Beta: