Question
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Question 9
Question 10
Question 11
Question 12
A)
Use the table to answer the question.
Soybeans Wheat
Argentina 100 million tons 80 million tons
Bolivia 120 million tons 100 million tons
For which of the following does Bolivia have the absolute advantage in production?
(1 point)
wheat and soybeans
neither product
wheat
soybeans
A) If a country directs all of its resources into producing one item, it can produce a maximum of either 2,000 computers or 10,000 books. The country can also produce a combination of these two goods, but the opportunity cost of producing either item will remain the same. They also have several beneficial trade partners. The residents of the country want to consume a combination of 1,500 computers and 8,000 books,
assuming that no economic growth will occur in the near future. Which of the following is a viable option to achieve the resident's desired consumption? (1 point)
The country could only achieve this through domestic production.
The country could only achieve this through trade.
The country could not achieve this by any means.
The country could achieve this through either domestic production or trade.
A) Which term refers to a tax on imports? (1 point)
embargo
tariff
subsidy
quota
A) A country is a leading producer of lumber. They want to increase their export of lumber. They decide to impose a subsidy on the export of lumber. What are the result of this decision on exports, domestic consumers, and producers? (1 point)
The subsidy will decrease exports of lumber, lower prices for domestic consumers, and raise the price for producers.
The subsidy will increase exports of lumber and raise domestic prices for consumer and producers.
The subsidy will increase exports of lumber and lower prices for domestic consumers and producers.
The subsidy will decrease exports of lumber and raise the prices for domestic consumers and producers.
A) Which of the following describes one purpose of APEC? (1 point)
to regulate equal treatment of member countries
to establish a uniform currency used by member countries
to reduce tariffs among member countries
to remove border controls among member countries
A) Which of the following correctly explains the relationship between international trade agreements and protectionist trade policies? (1 point)
International trade agreements usually weaken protectionist trade policies by increasing barriers to trade.
International trade agreements usually support protectionist trade polices by increasing barriers to trade.
International trade agreements usually support protectionist trade policies by reducing barriers to trade.
International trade agreements usually weaken protectionist trade policies by reducing barriers to trade.
A) Which of the following is addressed by the USMCA? Select the two correct answers. (1 point)
intellectual property rights
common currency
agricultural trade
free travel of labor
border removal
A) Which of the following correctly explains how the dollars-per-euro exchange rate will change in the near future if the exchange rate is expected to rise? (1 point)
The expectation of an appreciating euro increases the demand for euros and decreases the supply of euros on the foreign exchange market. The result is a lower exchange rate in the near future.
The expectation of an appreciating euro increases the demand for euros and decreases the supply of euros on the foreign exchange market. The result is a higher exchange rate in the near future.
The expectation of an appreciating euro increases the supply of euros and decreases the demand for euros on the foreign exchange market. The result is a lower exchange rate in the near future.
The expectation of an appreciating euro increases the supply of euros and decreases the demand for euros on the foreign exchange market. The result is a higher exchange rate in the near future.
A) Which of the following measures are used to assess aspects of a population's development? Select the two correct answers. (1 point)
total GDP
infant mortality rate
the size of its military
per capita GDP
political systems
A) Country A has a GDP of $60,000,000, and Country B has a GDP of 40,000,000. If the populations of Countries A and B are 40,000 and 20,000, respectively, which country is most developed based on per capita GDP, and why? (1 point)
Country A is more developed because it has a GDP of $60,000,000, while Country B only has a GDP of $40,000,000.
Country B is more developed because it produces a GDP of $80,000,000, while Country A only produces $1,500 per person.
Country A is more developed because it produces $1,500 per person, while Country B has a GDP of $40,000,000.
Country B is more developed because it produces $2,000 per person, while Country A only produces $1,500 per person.
A) Which of the following explains how foreign portfolio investment contributes to economic development? (1 point)
Domestic investors direct capital to foreign countries through loans and grants issued to promote development.
Domestic investors direct capital to foreign countries through the purchase of land, labor, and physical capital.
Domestic investors direct capital to foreign countries through the purchase of securities issued by foreign entities.
Domestic investors direct capital to foreign countries through the merging of domestic and foreign businesses.
A) How can a difference in Gini coefficients for the United States and China be interpreted? (1 point)
The United States and China differ in how developed their populations are.
The United States and China differ in how much income is earned by their populations.
The United States and China differ in their access to information technology.
The United States and China differ in how evenly income is distributed among individuals
Question 13
Question 14
Question 15
Question 16
Question 17
Question 18
A) Which of the following trends have followed globalization? Select the two correct answers. (1 point)
greater national sovereignty
technological advancement
the flourishing of small businesses
a rise in world poverty
an increase in the value of knowledge and information
A) If the United States and Canada enter into a trade deal that allows Canada to trade oil to the U.S. and the U.S. to trade auto parts to Canada, who will benefit and who will be at a disadvantage from this deal? (1 point)
Consumers in both countries will benefit. Oil producers in Canada and auto part manufacturers in the U.S. will benefit. Oil producers in the U.S. and auto part manufacturers in Canada will be at a disadvantage.
The governments of both countries will benefit. Oil producers in the U.S. and auto part manufacturers in Canada will benefit. Oil producers in Canada and auto part manufacturers in the U.S. will be at a disadvantage.
The governments of both countries will benefit. Oil producers in Canada and auto part manufacturers in the U.S. will benefit. Oil producers in the U.S. and auto part manufacturers in Canada will be at a disadvantage.
Consumers in both countries will benefit. Oil producers in the U.S. and auto part manufacturers in Canada will benefit. Oil producers in Canada and auto part manufacturers in the U.S. will be at a disadvantage.
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Question 9
Question 10
Question 11
Question 12
A)
Use the table to answer the question.
Soybeans Wheat
Argentina 100 million tons 80 million tons
Bolivia 120 million tons 100 million tons
For which of the following does Bolivia have the absolute advantage in production?
(1 point)
wheat and soybeans
neither product
wheat
soybeans
A) If a country directs all of its resources into producing one item, it can produce a maximum of either 2,000 computers or 10,000 books. The country can also produce a combination of these two goods, but the opportunity cost of producing either item will remain the same. They also have several beneficial trade partners. The residents of the country want to consume a combination of 1,500 computers and 8,000 books,
assuming that no economic growth will occur in the near future. Which of the following is a viable option to achieve the resident's desired consumption? (1 point)
The country could only achieve this through domestic production.
The country could only achieve this through trade.
The country could not achieve this by any means.
The country could achieve this through either domestic production or trade.
A) Which term refers to a tax on imports? (1 point)
embargo
tariff
subsidy
quota
A) A country is a leading producer of lumber. They want to increase their export of lumber. They decide to impose a subsidy on the export of lumber. What are the result of this decision on exports, domestic consumers, and producers? (1 point)
The subsidy will decrease exports of lumber, lower prices for domestic consumers, and raise the price for producers.
The subsidy will increase exports of lumber and raise domestic prices for consumer and producers.
The subsidy will increase exports of lumber and lower prices for domestic consumers and producers.
The subsidy will decrease exports of lumber and raise the prices for domestic consumers and producers.
A) Which of the following describes one purpose of APEC? (1 point)
to regulate equal treatment of member countries
to establish a uniform currency used by member countries
to reduce tariffs among member countries
to remove border controls among member countries
A) Which of the following correctly explains the relationship between international trade agreements and protectionist trade policies? (1 point)
International trade agreements usually weaken protectionist trade policies by increasing barriers to trade.
International trade agreements usually support protectionist trade polices by increasing barriers to trade.
International trade agreements usually support protectionist trade policies by reducing barriers to trade.
International trade agreements usually weaken protectionist trade policies by reducing barriers to trade.
A) Which of the following is addressed by the USMCA? Select the two correct answers. (1 point)
intellectual property rights
common currency
agricultural trade
free travel of labor
border removal
A) Which of the following correctly explains how the dollars-per-euro exchange rate will change in the near future if the exchange rate is expected to rise? (1 point)
The expectation of an appreciating euro increases the demand for euros and decreases the supply of euros on the foreign exchange market. The result is a lower exchange rate in the near future.
The expectation of an appreciating euro increases the demand for euros and decreases the supply of euros on the foreign exchange market. The result is a higher exchange rate in the near future.
The expectation of an appreciating euro increases the supply of euros and decreases the demand for euros on the foreign exchange market. The result is a lower exchange rate in the near future.
The expectation of an appreciating euro increases the supply of euros and decreases the demand for euros on the foreign exchange market. The result is a higher exchange rate in the near future.
A) Which of the following measures are used to assess aspects of a population's development? Select the two correct answers. (1 point)
total GDP
infant mortality rate
the size of its military
per capita GDP
political systems
A) Country A has a GDP of $60,000,000, and Country B has a GDP of 40,000,000. If the populations of Countries A and B are 40,000 and 20,000, respectively, which country is most developed based on per capita GDP, and why? (1 point)
Country A is more developed because it has a GDP of $60,000,000, while Country B only has a GDP of $40,000,000.
Country B is more developed because it produces a GDP of $80,000,000, while Country A only produces $1,500 per person.
Country A is more developed because it produces $1,500 per person, while Country B has a GDP of $40,000,000.
Country B is more developed because it produces $2,000 per person, while Country A only produces $1,500 per person.
A) Which of the following explains how foreign portfolio investment contributes to economic development? (1 point)
Domestic investors direct capital to foreign countries through loans and grants issued to promote development.
Domestic investors direct capital to foreign countries through the purchase of land, labor, and physical capital.
Domestic investors direct capital to foreign countries through the purchase of securities issued by foreign entities.
Domestic investors direct capital to foreign countries through the merging of domestic and foreign businesses.
A) How can a difference in Gini coefficients for the United States and China be interpreted? (1 point)
The United States and China differ in how developed their populations are.
The United States and China differ in how much income is earned by their populations.
The United States and China differ in their access to information technology.
The United States and China differ in how evenly income is distributed among individuals
Question 13
Question 14
Question 15
Question 16
Question 17
Question 18
A) Which of the following trends have followed globalization? Select the two correct answers. (1 point)
greater national sovereignty
technological advancement
the flourishing of small businesses
a rise in world poverty
an increase in the value of knowledge and information
A) If the United States and Canada enter into a trade deal that allows Canada to trade oil to the U.S. and the U.S. to trade auto parts to Canada, who will benefit and who will be at a disadvantage from this deal? (1 point)
Consumers in both countries will benefit. Oil producers in Canada and auto part manufacturers in the U.S. will benefit. Oil producers in the U.S. and auto part manufacturers in Canada will be at a disadvantage.
The governments of both countries will benefit. Oil producers in the U.S. and auto part manufacturers in Canada will benefit. Oil producers in Canada and auto part manufacturers in the U.S. will be at a disadvantage.
The governments of both countries will benefit. Oil producers in Canada and auto part manufacturers in the U.S. will benefit. Oil producers in the U.S. and auto part manufacturers in Canada will be at a disadvantage.
Consumers in both countries will benefit. Oil producers in the U.S. and auto part manufacturers in Canada will benefit. Oil producers in Canada and auto part manufacturers in the U.S. will be at a disadvantage.
Answers
GPT-4o mini
Here are the answers to the questions provided:
1. For which of the following does Bolivia have the absolute advantage in production?
**Answer: wheat and soybeans**
2. Which of the following is a viable option to achieve the resident's desired consumption?
**Answer: The country could achieve this through either domestic production or trade.**
3. Which term refers to a tax on imports?
**Answer: tariff**
4. What are the results of a subsidy on the export of lumber?
**Answer: The subsidy will increase exports of lumber and lower prices for domestic consumers and producers.**
5. Which of the following describes one purpose of APEC?
**Answer: to reduce tariffs among member countries**
6. Which of the following correctly explains the relationship between international trade agreements and protectionist trade policies?
**Answer: International trade agreements usually weaken protectionist trade policies by reducing barriers to trade.**
7. Which of the following is addressed by the USMCA?
**Answer: intellectual property rights and agricultural trade**
8. Which of the following correctly explains how the dollars-per-euro exchange rate will change if the exchange rate is expected to rise?
**Answer: The expectation of an appreciating euro increases the demand for euros and decreases the supply of euros on the foreign exchange market. The result is a higher exchange rate in the near future.**
9. Which of the following measures are used to assess aspects of a population's development?
**Answer: infant mortality rate and per capita GDP**
10. Which country is most developed based on per capita GDP, and why?
**Answer: Country B is more developed because it produces $2,000 per person, while Country A only produces $1,500 per person.**
11. Which of the following explains how foreign portfolio investment contributes to economic development?
**Answer: Domestic investors direct capital to foreign countries through the purchase of securities issued by foreign entities.**
12. How can a difference in Gini coefficients for the United States and China be interpreted?
**Answer: The United States and China differ in how evenly income is distributed among individuals.**
13. Which of the following trends have followed globalization?
**Answer: technological advancement and an increase in the value of knowledge and information**
14. If the United States and Canada enter into a trade deal, who will benefit?
**Answer: Consumers in both countries will benefit. Oil producers in Canada and auto part manufacturers in the U.S. will benefit. Oil producers in the U.S. and auto part manufacturers in Canada will be at a disadvantage.**
Please let me know if there is anything else you need!
1. For which of the following does Bolivia have the absolute advantage in production?
**Answer: wheat and soybeans**
2. Which of the following is a viable option to achieve the resident's desired consumption?
**Answer: The country could achieve this through either domestic production or trade.**
3. Which term refers to a tax on imports?
**Answer: tariff**
4. What are the results of a subsidy on the export of lumber?
**Answer: The subsidy will increase exports of lumber and lower prices for domestic consumers and producers.**
5. Which of the following describes one purpose of APEC?
**Answer: to reduce tariffs among member countries**
6. Which of the following correctly explains the relationship between international trade agreements and protectionist trade policies?
**Answer: International trade agreements usually weaken protectionist trade policies by reducing barriers to trade.**
7. Which of the following is addressed by the USMCA?
**Answer: intellectual property rights and agricultural trade**
8. Which of the following correctly explains how the dollars-per-euro exchange rate will change if the exchange rate is expected to rise?
**Answer: The expectation of an appreciating euro increases the demand for euros and decreases the supply of euros on the foreign exchange market. The result is a higher exchange rate in the near future.**
9. Which of the following measures are used to assess aspects of a population's development?
**Answer: infant mortality rate and per capita GDP**
10. Which country is most developed based on per capita GDP, and why?
**Answer: Country B is more developed because it produces $2,000 per person, while Country A only produces $1,500 per person.**
11. Which of the following explains how foreign portfolio investment contributes to economic development?
**Answer: Domestic investors direct capital to foreign countries through the purchase of securities issued by foreign entities.**
12. How can a difference in Gini coefficients for the United States and China be interpreted?
**Answer: The United States and China differ in how evenly income is distributed among individuals.**
13. Which of the following trends have followed globalization?
**Answer: technological advancement and an increase in the value of knowledge and information**
14. If the United States and Canada enter into a trade deal, who will benefit?
**Answer: Consumers in both countries will benefit. Oil producers in Canada and auto part manufacturers in the U.S. will benefit. Oil producers in the U.S. and auto part manufacturers in Canada will be at a disadvantage.**
Please let me know if there is anything else you need!