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Question
Submitted by niclov on Tue, 2012-05-01 15:48
due on Sat, 2012-05-05 15:48
answered 3 time(s)
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niclov bought 7 out of 8 answered question(s)

help5

A country has a comparative advantage when it can

produce more of a product than another country

produce a lot of different economic products

produce a good at a lower dollar cost than another country

produce a good at a lower opportunity cost than another country

Beta can produce either ten apples or three oranges. Cama can produce either twelve apples or three oranges. Which of the following is true?

Beta has an absolute advantage in the production of apples.

Cama has an absolute advantage in the production of oranges.

Cama has an absolute advantage in the production of apples.

Cama has a comparative advantage in the production of oranges.

According to modern theory, it is beneficial for a country to trade a good with another country if one country has a(n) in the production of that good.

comparative advantage

absolute advantage

financial advantage

opportunity cost

A country has an absolute advantage when it can

produce more of a product than another country

produce a lot of different economic products

produce a good at a higher dollar cost than another country

produce a good at a lower opportunity cost than another country

Specialization promotes efficiency of the world economy by

allowing nations to only produce the goods they produce efficiently

bringing absolute advantage to all nations

increasing the availability of natural resources

making sure the exports and imports of all countries are the same

An import is

a good or service that is sent to a foreign country

an example of profitable trade

a good or service that is brought from a foreign country

an example of a production deficiency

A tax placed on an import is a

quota

opportunity cost

ration

tariff

The Hawley-Smoot Tariff is an example of

free trade

protectionism

dumping

infant industry

Many economists argue that global free trade will

promote economic efficiency

cause economic problems

result in the United States becoming poor

create protectionism

The argument is based on the belief that new industries are fragile and need to be protected from foreign competition.

dumping

national security

quota

infant industry

During his administration, President George W. Bush believed that

participating in the world economy makes the U.S. economy stronger

foreign trade is not very important in the U.S. economy

free trade agreements are not necessary

increasing trade restrictions is important to all U.S. industries

NAFTA instituted a free trade policy between

all world nations

Europe and Asia

Canada, Mexico, and the United States

Europe and Africa

The is the price of a nation’s currency relative to another nation’s currency.

foreign exchange rate

floating exchange rate

fixed exchange rate

interest rate

A country experiences a when the value of imports exceeds the value of exports.

balance of trade

balance of payments

trade surplus

trade deficit

A(n) is determined by the supply and demand of that currency.

fixed exchange rate

floating exchange rate

balance of trade

interest rate

The International Monetary Fund was created in 1944 in order to

manage the international monetary system of fixed exchange rates

determine the floating exchange rates

fix all interest rates

create comparative advantage

A dollar is able to purchase less foreign currency than a dollar.

weak, strong

global, non-global

strong, weak

balanced, imbalanced

Globalization is the term used to describe the emergence of a fragmented and divisive isolationist world view.

true

false

Desiree’s pet care company, Doggone Gorgeous, is an exclusive salon that has shops in Paris, Milan, New York, and San Francisco. Desiree’s business concept is unique because she does not accept currency; she accepts autographed photos of her famous clients with their dogs as payment. She has convinced several upscale shopkeepers to barter with the photos and assigns value to each photo based on the net worth of the person in the photo. She turns a tidy profit in all four locations by collecting and exchanging these famous client photos.

Answer the following questions about Desiree’s business:

Doggone Gorgeous is a multinational company.

true

false

The signed photographs of clients and their dogs constitute money.

true

false

Answer
Submitted by rajendrabnk on Tue, 2012-05-01 16:15
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x country has a xxxxxxxxxxx advantage when xx can produce more of x product xxxx xxxxxxx country produce x lot of xxxxxxxxx economic xxxxxxxxxxxxxxxx x good xx x lower xxxxxx cost xxxx xxxxxxx xxxxxxxxxxxxxxx x xxxx at x xxxxx xxxxxxxxxxx cost xxxx another xxxxxxx

xxxx can produce either ten apples or three oranges. Cama can xxxxxxx xxxxxx xxxxxx xxxxxx xx xxxxx xxxxxxxx Which of xxx following is xxxxxxxxxx xxx xx xxxxxxxx advantage xx xxx xxxxxxxxxx of xxxxxxxxxxxx has an xxxxxxxx xxxxxxxxx xx xxx xxxxxxxxxx of xxxxxxxxxxxxx xxx xx xxxxxxxx advantage xx xxx production of apples. Cama xxx a comparative xxxxxxxxx in xxx production xx xxxxxxxx

According xx xxxxxx xxxxxxx xx is xxxxxxxxxx xxx a country to trade a good with another xxxxxxx xx xxx xxxxxxx xxx a(n) xx the production of that good. comparative xxxxxxxxxxxxxxxxxx advantage financial xxxxxxxxxxxxxxxxxxxxx cost

x xxxxxxx xxx xx xxxxxxxx advantage when xx xxxxxxxxxxx xxxx of a xxxxxxx than another country produce a lot of

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Answer
Submitted by shahimermaid on Tue, 2012-05-01 16:27
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A xxxxxxx xxx a xxxxxxxxxxx advantage xxxx it can

xxxxxxx x good xx a lower dollar cost than xxxxxxx xxxxxxx

Beta can produce either ten xxxxxx xx three xxxxxxxx Cama xxx xxxxxxx xxxxxx twelve apples or three xxxxxxxx xxxxx xx xxx following xx true?

xxxx xxx an xxxxxxxx advantage xx xxx production of apples.

xxxxxxxxx to xxxxxx theory, xx is beneficial for a country xx trade x good xxxx another xxxxxxx xx one xxxxxxx xxx a(n) in the xxxxxxxxxx xx that xxxxx

xxxxxxxxxxx advantage

x country xxx an xxxxxxxx advantage xxxx xx xxx

xxxxxxx xxxx of a product than another country

xxxxxxxxxxxxxx xxxxxxxx xxxxxxxxxx of the xxxxx xxxxxxx xx

xxxxxxxx nations xx xxxx xxxxxxx the xxxxx they xxxxxxx efficiently

xx import xx

x xxxx xx xxxxxxx xxxx xx brought xxxx a xxxxxxx xxxxxxx

x tax placed xx an xxxxxx is a

tariff

The xxxxxxxxxxxx Tariff is xx example xx

xxxxxxxxxxxxx

Many xxxxxxxxxx argue xxxx xxxxxx free xxxxx will

promote xxxxxxxx efficiency

The argument is xxxxx xx the xxxxxx that new

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Answer
Submitted by mac123 on Tue, 2012-05-01 16:14
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help5

x country has x comparative xxxxxxxxx when xx xxx

xxxxxxx xxxx xx x xxxxxxx than another country

produce a lot xx different xxxxxxxx xxxxxxxx

xxxxxxx x good at x lower xxxxxx cost than xxxxxxx country

xxxxxxx a good at x xxxxx xxxxxxxxxxx cost xxxx xxxxxxx xxxxxxx

xxxx xxx produce xxxxxx xxx xxxxxx xx xxxxx xxxxxxxx xxxx can xxxxxxx either xxxxxx apples xx three xxxxxxxx Which of the xxxxxxxxx xx true?

xxxx has an absolute xxxxxxxxx xx xxx xxxxxxxxxx xx xxxxxxx

Cama xxx xx absolute advantage xx xxx production of xxxxxxxx

Cama xxx an xxxxxxxx advantage xx the xxxxxxxxxx of xxxxxxx

Cama has x comparative advantage xx the production of xxxxxxxx

According to modern xxxxxxx xx xx beneficial for x xxxxxxx xx trade x good xxxx another xxxxxxx xx xxx country has xxxx in xxx production xx xxxx good.

comparative xxxxxxxxx

absolute advantage

financial advantage

opportunity xxxx

x country xxx xx absolute xxxxxxxxx xxxx xx xxx

produce xxxx xx x xxxxxxx xxxx another country

produce x xxx of

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