Economics: Global Trade

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1 point

Comparative advantage : ______ ::absolute advantage : _____ .

1 point

_______ distribution of resources among nations leads countries to______ in products that require the
use of their available resources.Countries may then ______ with
other countries for the products that they cannot produce.

1 point

Strong dollar : ______ imports ::weak dollar : _______ exports.

1 point

Japan has a 100% tariff on sports car imports from the United States. If a sports car costs $80,000.00 in the United States:
a) How much would it cost in Japan?and
b) Would this increase or decrease U.S. exports to Japan?

1 point

In the preceding example, the United States could do all of the following to enable the sale of more sports cars in Japan EXCEPT—

1 point

How does international trade impact economic growth within a trading nation?

1 point

How do fluctuations to the international exchange rate of a nation's currency affect its balance of trade?

1 point

Analyze the data in the charts above. Which impact will China's trade have on U. S.trade?

1 point

Between 1990 and 2003, the United States saw a decrease in its share of global high-technology exports. Using the data above, which trading partner experienced the greatest benefit while the market share of the United States decreased?

10.

1 point

In which industry did the U.S. loss of the global market share cause an increased share for all of its trading partners?

11.

1 point

Using the table above, which of the following would be Ivory Coast's diamond output available after trade?

12.

1 point

Which economic concept does the table above illustrate?

13.

1 point

Using the table above, what gain did the United States make by specializing in tractors?

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