hey bot answer this question
A country currently exports 1 million tons of lumber to the rest of the world. If the government were to impose an export subsidy on lumber, which of the following correctly explains the expected result?
a
The subsidy will decrease exports of lumber because it will effectively raise lumber prices for both domestic consumers and domestic producers.
b
The subsidy will decrease exports of lumber because it will effectively lower lumber prices for consumers and raise them for producers.
c
The subsidy will increase exports of lumber because it will effectively raise lumber prices for both domestic consumers and domestic producers.
d
The subsidy will increase exports of lumber because it will effectively lower lumber prices for consumers and raise them for producers.
d - The subsidy will increase exports of lumber because it will effectively lower lumber prices for consumers and raise them for producers.
Match the term to its correct definition.
Column A
1.
a tax on imported goods:
a tax on imported goods
2.
Limits the quantity of a product that can be legally imported into a country.:
Limits the quantity of a product that can be legally imported into a country.
3.
Elimination of trade with people and businesses in a particular country:
Elimination of trade with people and businesses in a particular country
4.
Policies that restrict the sale of products that do not meet certain requirements set by the Government:
Policies that restrict the sale of products that do not meet certain requirements set by the Government
5.
Governments provide industries with money in order to lower their production costs:
Governments provide industries with money in order to lower their production costs
Column B
a.subsidies
b.standards
c.embargo
d.tariff
e.quotas
1. d - tariff
2. e - quotas
3. c - embargo
4. b - standards
5. a - subsidies
How can a difference in Gini coefficients for the United States and China be interpreted?
a
The United States and China differ in how much income is earned by their populations.
b
The United States and China differ in their access to information technology.
c
The United States and China differ in how evenly income is distributed among individuals.
d
The United States and China differ in how developed their populations are.
c - The United States and China differ in how evenly income is distributed among individuals.
Question 4 (1 point)
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?
a
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.
b
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.
c
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.
d
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.
b - 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.
Question 5 (1 point)
A country can direct all of its resources to the production of either 5,000 computers or 20,000 books. Assuming that no economic growth will occur in the near future, and that the residents of the country want to consume a combination of 3,500 computers and 8,000 books, which of the following is correct?
a
The country could only achieve this through domestic production.
b
The country could achieve this through either domestic production or trade.
c
The country could only achieve this through trade.
d
The country could not achieve this by any means.
b - The country could achieve this through either domestic production or trade.
Which term refers to a tax on imports?
a
quota
b
embargo
c
tariff
d
subsidy
c - tariff
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?
a
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.
b
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.
c
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.
d
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.
a - 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.
Question 8 (2 points)
Which of the following trends have followed globalization? Select the two correct answers.
a
a rise in world poverty
b
greater national sovereignty
c
the flourishing of small businesses
d
an increase in the value of knowledge and information
e
technological advancement
d - an increase in the value of knowledge and information and e - technological advancement are the two correct answers.
Which of the following describes one purpose of APEC?
a
to establish a uniform currency used by member countries
b
to remove border controls among member countries
c
to reduce tariffs among member countries
d
to regulate equal treatment of member countries
c - to reduce tariffs among member countries.
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?
a
soybeans
b
wheat and soybeans
c
wheat
d
neither product
a - soybeans.
Which of the following correctly explains the relationship between international trade agreements and protectionist trade policies?
a
International trade agreements usually mitigate protectionist trade policies by reducing barriers to trade.
b
International trade agreements usually mitigate protectionist trade policies by increasing barriers to trade.
c
International trade agreements usually support protectionist trade polices by increasing barriers to trade.
d
International trade agreements usually support protectionist trade policies by reducing barriers to trade.
a - International trade agreements usually mitigate protectionist trade policies by reducing barriers to trade.
Which of the following is addressed by the USMCA? Select the two correct answers.
a
border removal
b
free travel of labor
c
intellectual property rights
d
agricultural trade
e
common currency