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China's GDP is over 16 trillion. How is it possible that China is a "less developed country"? A. Most Chinese people lived in cities and were affluent a century ago, so China's economy hasn't needed "development" B. Chin...

1 answer 3 months ago

For 40 years America has run a trade deficit. This sounds bad, and maybe it is bad, but it's important to remember: A. the trade deficit is very small compared to our overall GDP B. the money we send abroad buying import...

1 answer 3 months ago

The United States dollar is a "strong" currency internationally. This means A. The dollar helps America's industries to compete globally by making American products cheaper B. the dollar is still backed by gold C. the do...

1 answer 3 months ago

If a country currency "appreciates", one likely problem that would cause is A. it will make imports to that country more expensive B. it will make exports from that country more expensive C. it will trigger cost-push inf...

1 answer 3 months ago

In the present day, the value of a country's currency reflects A. whether the country has a trade deficit or a trade surplus B. the productive capacity of that country's economy C. the military and political strength of...

1 answer 3 months ago

In the years of following World War II, most of the world's currencies were "pegged" to the US dollar. Governments intervened to ensure their currencies did not rise or fall in value compared to the dollar. Meanwhile, th...

1 answer 3 months ago

In 2018 and 2019 the Trump Administration placed numerous tariffs and other restrictions on trade with China; China retaliated with their own restrictions on American goods. This is an example of A. a trade embargo B. a...

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What would be a good description of the *difference* between APEC and EU? A. Both seek free trade, but the EU goes further, like having a common currency B. Both seek free trade with each other, but both consider America...

1 answer 3 months ago

Until recent years, America's post-World War II trade policy was based on the idea that A. trade was an essential part of preventing another horrible world war B. trade was harmful to our domestic industries, which neede...

1 answer 3 months ago

Economists almost all agree that the Smoot Hawley Tariff A. was irrelevant; economists just have fun saying "Smoot" B. made the Great Depression end sooner than it otherwise would have C. made the Great Depression worse...

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When Alexander Hamilton urged laws and policies to allow America's "infant industries" to develop and not get crushed by competition from Europe, he was arguing for: A. Globalization - agreements that allow the free flow...

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The theory of free trade is that it should A. make some countries rich and other countries poor B. never cause any kind of disruption in a domestic industry C. mean more goods and services at better prices for all D. mov...

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If a country has the "comparative advantage" in producing a good or service, that means the country... A. Has the lowest opportunity cost for producing the good or service B. Has the cheapest labor C. Has the most natura...

1 answer 3 months ago

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