Question : 31) Which of the following statements false? A) Not all individuals : 1388260

 

31) Which of the following statements is false?

A) Not all individuals in both countries are made better off as a result of international trade.

B) Within each country, some individuals are made better off as a result of international trade, but one of the countries will be worse off overall.

C) Although some individuals may not be made better off as a result of international trade, both countries may be made better off overall.

D) Each country as a whole is made better off as a result of international trade, but individuals within each country may be made worse off.

 

 

32) All of the following are sources of comparative advantage except

A) climate and natural resources.

B) relative abundance of labor and capital.

C) a strong foreign currency exchange rate.

D) technology.

 

 

33) The United States has developed a comparative advantage in digital computers, airliners and many prescription drugs. The source of its comparative advantage in these products is

A) a favorable climate.

B) technology.

C) abundant supplies of natural resources.

D) a strong central government.

 

34) Pakistan has developed a comparative advantage in the production of clothing. The source of its comparative advantage in these products is

A) a favorable climate.

B) technology.

C) abundant supplies of natural resources.

D) a large supply of unskilled workers.

 

 

35) Once an industry becomes established in a certain area firms that locate in that area gain advantages over firms located elsewhere, leading to lower costs of production. Economists refer to the lower costs that result from increases in the size of an industry in a certain area as

A) external economies.

B) positive externalities.

C) strategic advantages.

D) technological change.

 

 

36) China has developed a comparative advantage in the production of children’s toys. The source of this comparative advantage is

A) superior process technology.

B) a large supply of unskilled workers and relatively little capital.

C) investment in capital used to produce toys.

D) a large supply of natural resources.

 

37) Costa Rica is a leading exporter of bananas. What explains the comparative advantage of this country in banana production?

A) climate and soil conditions in Costa Rica which are well-suited for banana production

B) investment by multinational firms such as Chiquita Brands International and the Dole Food Company

C) a large supply of unskilled labor

D) positive externalities

 

 

38) In the past two decades the United States lost its comparative advantage in automobiles to Japan. What factor was most responsible for the development of Japan’s comparative advantage in automobiles? 

A) Japanese firms excelled in process technology.

B) Japan has abundant supplies of labor.

C) Japanese firms benefited from external economies.

D) Japan has abundant supplies of natural resources needed to produce automobiles.

 

 

39) One reason a country does not specialize completely in production is that production of most goods involves increasing opportunity costs.

 

 

40) One of the main sources of comparative advantage is natural resources.

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

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.

Money-back guarantee

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 more

Zero-plagiarism guarantee

Each 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 more

Free-revision policy

Thanks 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 more

Privacy policy

Your 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 more

Fair-cooperation guarantee

By 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