Question 1

As measured by the value of trade,Canada,Mexico,and China are the three top trading partners of the United States.

Accepted Answer

A) True 
 B)False

Question 2

Small countries tend to have higher measures of openness than larger countries because:

Accepted Answer

A)   their productivity is higher
B)   they are more reliant on international trade
C)   they are less reliant on international trade
D)   they are more diverseE) A) and B)
F) A) and C)

Question 3

The movement to free international trade is most likely to generate short-term unemployment in which industries?

Accepted Answer

A)   Industries in which there are neither imports nor exports
B)   Import-competing industries
C)   Industries that sell to domestic and foreign buyers
D)   Industries that sell to only foreign buyersE) A) and D)
F) C) and D)

Question 4

Important trading partners of the United States include Canada,Mexico,Japan,and China.

Accepted Answer

A) True 
 B)False

Question 5

In the United States,tariffs and quotas are commonly used as tools designed to restrict trade among the fifty states.

Accepted Answer

A) True 
 B)False

Question 6

Producing goods for export produces:

Accepted Answer

A)   jobs
B)   income
C)   tariffs
D)   a and bE) B) and C)
F) A) and B)

Question 7

What are the challenges of the international trading system?

Accepted Answer

Among the challenges that the ...

Question 8

As an economy opens up to international trade,domestic prices:

Accepted Answer

A)   become lower
B)   become more aligned with international prices
C)   stabilize
D)   none of the above; what will happen cannot be predictedE) A) and B)
F) B) and D)

Question 9

A firm's ____,relative to that of other firms,is generally regarded as the most important determinant of competitiveness.

Accepted Answer

A)   Income level
B)   Tastes and preferences
C)   Governmental regulation
D)   ProductivityE) A) and D)
F) None of the above

Question 10

A main advantage of specialization results from:

Accepted Answer

A)   Economies of large-scale production
B)   The specializing country behaving as a monopoly
C)   Smaller production runs resulting in lower unit costs
D)   High wages paid to foreign workersE) A) and B)
F) B) and C)

Question 11

Critics maintain that U.S.trade policies have mainly benefitted large corporations rather than the average American citizen.

Accepted Answer

A) True 
 B)False

Exam 1: The International Economy and Globalization

Critics maintain that U.S.trade policies have mainly benefitted large corporations rather than the average American citizen.

Correct Answer
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A main advantage of specialization results from:

Correct Answer
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In the United States,tariffs and quotas are commonly used as tools designed to restrict trade among the fifty states.

Correct Answer
verified

The movement to free international trade is most likely to generate short-term unemployment in which industries?

Correct Answer
verified

What are the challenges of the international trading system?

Correct Answer
verified
Among the challenges that the ...
View Answer

A firm's ____,relative to that of other firms,is generally regarded as the most important determinant of competitiveness.

Correct Answer
verified

Producing goods for export produces:

Correct Answer
verified

As an economy opens up to international trade,domestic prices:

Correct Answer
verified

Important trading partners of the United States include Canada,Mexico,Japan,and China.

Correct Answer
verified

Small countries tend to have higher measures of openness than larger countries because:

Correct Answer
verified

As measured by the value of trade,Canada,Mexico,and China are the three top trading partners of the United States.

Correct Answer
verified

Exam 1: The International Economy and Globalization

Critics maintain that U.S.trade policies have mainly benefitted large corporations rather than the average American citizen.

Correct AnswerverifiedShow Answer

A main advantage of specialization results from:

Correct AnswerverifiedShow Answer

In the United States,tariffs and quotas are commonly used as tools designed to restrict trade among the fifty states.

Correct AnswerverifiedShow Answer

The movement to free international trade is most likely to generate short-term unemployment in which industries?

Correct AnswerverifiedShow Answer

What are the challenges of the international trading system?

Correct AnswerverifiedAmong the challenges that the ...View AnswerShow Answer

A firm's ____,relative to that of other firms,is generally regarded as the most important determinant of competitiveness.

Correct AnswerverifiedShow Answer

Producing goods for export produces:

Correct AnswerverifiedShow Answer

As an economy opens up to international trade,domestic prices:

Correct AnswerverifiedShow Answer

Important trading partners of the United States include Canada,Mexico,Japan,and China.

Correct AnswerverifiedShow Answer

Small countries tend to have higher measures of openness than larger countries because:

Correct AnswerverifiedShow Answer

As measured by the value of trade,Canada,Mexico,and China are the three top trading partners of the United States.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Among the challenges that the ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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