ECON 312 Week 7 Quiz (Set 1)
- (TCO 8) Specialization and trade between individuals or between nations lead to:
- (TCO 8) Suppose the United States sets a limit on the number of tons of sugar that can be imported each year. This is an example of a(n)
- (TCO 9) Which of the following is not included in the current account of a nation’s balance of payments?
- (TCO 9) If the dollar price of the yen rises, then
- (TCO 9) In recent years, the United States has had large
- (TCO 9) Answer the next question(s) on the basis of the following table which indicates the dollar price of libras, the currency used in the hypothetical nation of Libra. Assume that a system of freely floating exchange rates is in place.
- (TCO 8) The primary gain from international trade is
- (TCO 8) Refer to the graphs below. Stanville has a comparative advantage in producing
- (TCO 9) The Group of Eight (G8) Nations which periodically have jointly intervened to influence the value of the dollar include
- (TCO 8) As a percentage of GDP, U.S. exports are
- (TCO 8 and 10) Explain some of problems with the argument that trade protection is needed to protect American jobs.
- (TCO 9) What are the economic effects of a depreciation of the US dollar on US trade balances?