9.2 Winners, Losers, and Net Gains from Trades
1) International trade benefits
A) only the exporter.
B) only the importer.
C) both the exporter and the importer.
D) neither the exporter nor the importer.
E) the exporter at all times and sometimes also the importer.
2) Who gains from international trade?
A) only the exporting nation
B) only the importing nation
C) both the importing and the exporting nations
D) neither the importing nor the exporting nations
E) The gains depends on which nation gets to keep the total revenue from the sale
3) Most t-shirts bought by Americans are made in Asia. U.S. consumers of t-shirts buy these t-shirts because
A) they pay a higher price for t-shirts made in Asia than they would for similar shirts made in the United States.
B) they pay a lower price for t-shirts made in Asia than they would for similar shirts made in the United States.
C) they must buy some goods or services produced in Asia.
D) by so doing they are helping preserve U.S. jobs producing t-shirts.
E) they know that the United States has a comparative advantage in wearing t-shirts.
4) After a nation starts importing a good from overseas, the domestic price of the good
A) falls.
B) stays the same.
C) rises.
D) might change, but more information about what the country exports is needed to determine if the price rises, falls, or does not change.
E) might change, but more information about what else the country imports is needed to determine if the price rises, falls, or does not change.
5) When a nation starts importing a good or service, domestic employment in that industry
A) decreases.
B) stays the same.
C) increases.
D) might change, but more information about what else the country imports is needed to determine if employment increases, decreases, or does not change.
E) might change, but more information about what the country exports is needed to determine if employment increases, decreases, or does not change.
6) When a nation imports a good or service, the nation’s consumer surplus ________, its producer surplus ________, and its total surplus ________.
A) increases; decreases; increases
B) increases; decreases; decreases
C) increases; increases; increases
D) decreases; decreases; decreases
E) decreases; decreases; increases
7) When a nation imports a good, its ________ surplus decreases and its ________ surplus increases.
A) consumer; producer
B) consumer; consumer
C) producer; producer
D) producer; consumer
E) total; consumer
8) When a nation imports a good, its ________ surplus decreases and its ________ surplus increases.
A) consumer; producer
B) consumer; consumer
C) producer; producer
D) producer; total
E) total; consumer
9) When a nation imports a good, its ________ surplus increases and its ________ surplus increases.
A) consumer; producer
B) consumer; consumer
C) producer; producer
D) producer; total
E) total; consumer
10) When a nation imports a good, its consumer surplus ________, and its producer surplus ________.
A) increases; increases
B) decreases; decreases
C) increases; decreases
D) decreases; increases
E) does not change; increases
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more