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IE Chapter 6

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Chapter 6
ulckapatel
Quiz por ulckapatel, atualizado more than 1 year ago
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Resumo de Recurso

Questão 1

Questão
The meaning of "terms of trade" is
Responda
  • the price of a country's exports divided by the price of its imports.
  • the amount of exports sold by a country.
  • the price conditions bargained for in international markets.
  • the quantities of imports received in free trade.
  • the tariffs in place between two trading countries.

Questão 2

Questão
A country cannot produce a mix of products with a higher value than where
Responda
  • the isovalue line is tangent to the production possibility frontier.
  • the isovalue line intersects the production possibility frontier.
  • the isovalue line is above the production possibility frontier.
  • the isovalue line is below the production possibility frontier.
  • the isovalue line is tangent with the indifference curve.

Questão 3

Questão
Tastes of individuals are represented by
Responda
  • indifference curves.
  • production possibility frontiers.
  • isovalue lines.
  • production functions.
  • the terms of trade.

Questão 4

Questão
If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then
Responda
  • the terms of trade of cloth exporters will improve.
  • all countries would be better off.
  • the terms of trade of food exporters will improve.
  • the terms of trade of all countries will improve.
  • the terms of trade of cloth exporters will worsen.

Questão 5

Questão
If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then
Responda
  • the cloth exporter will increase the quantity of cloth produced.
  • the cloth exporter will increase the quantity of cloth exported.
  • the food exporter will increase the quantity of food exported.
  • the cloth exporter will decrease the quantity of cloth exported.
  • the country would import more cloth.

Questão 6

Questão
If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then
Responda
  • world relative quantity of cloth supplied will increase.
  • world relative quantity of cloth supplied and demanded will increase.
  • world relative quantity of cloth supplied and demanded will decrease.
  • world relative quantity of cloth demanded will decrease.
  • world relative quantity of food will increase.

Questão 7

Questão
A country will be able to consume a combination of goods that is not attainable solely from domestic production if
Responda
  • the world terms of trade differ from its domestic relative costs.
  • the country specializes in one product.
  • the country avoids international trade.
  • the world terms of trade equal the domestic relative costs.
  • the country's domestic production value equals world relative value.

Questão 8

Questão
Terms of trade refers to
Responda
  • the relative price at which trade occurs.
  • what goods are imported.
  • what goods are exported.
  • the volume of trade.
  • the tariffs applied to trade.

Questão 9

Questão
If points A and B are two locations on a country's production possibility frontiers, then
Responda
  • the country could produce either of the two bundles.
  • consumers are indifferent between the two bundles.
  • producers are indifferent between the two bundles.
  • at any point in time, the country could produce both.
  • both bundles must have the same relative cost.

Questão 10

Questão
If the economy is producing at point a on its production possibility frontier, then
Responda
  • all of the country's workers are employed.
  • all of the country's workers are specialized in one product.
  • all of the country's capital is used for one product.
  • all of its capital is used, but not efficiently.
  • all of the country's exports are produced in equal amounts.

Questão 11

Questão
Refer to the figure above, which shows a country's possible production possibility frontiers and indifference curves. If the country is producing at ______________, then moving to ______________ will cause utility to ____________.
Image:
f1724021-324f-44c4-9f6d-09c2b24f760b (image/jpeg)
Responda
  • point b; point c; remain unchanged
  • point a; point b; increase
  • point c; point b; increase
  • point c; point b; decrease
  • point a; point c; remain unchanged

Questão 12

Questão
If two countries with diminishing returns and different marginal rates of substitution between two products were to engage in trade, then
Responda
  • the marginal rates of substitution of both would become equal.
  • the shapes of their respective production possibility frontiers would change.
  • the larger of the two countries would dominate their trade.
  • the country with relatively elastic supplies would export more.
  • the opportunity costs for the smaller country would increase.

Questão 13

Questão
If a country began exporting product A and importing product B, then, as compared to the autarky (no-trade) situation, the marginal cost of product A will
Responda
  • increase.
  • decrease.
  • shift outward.
  • shift inward.
  • remain the same.

Questão 14

Questão
When the production possibility frontier shifts out relatively more in one direction, we have
Responda
  • biased growth.
  • unbiased growth.
  • immiserizing growth.
  • balanced growth.
  • imbalanced growth.

Questão 15

Questão
Suppose that a country experiences growth strongly biased toward its export, cloth
Responda
  • this will tend to worsen the country's terms of trade.
  • this will tend to improve the country's terms of trade.
  • this will tend to leave the country's terms of trade unchanged.
  • this will tend to worsen the terms of trade for the country's trading partner.
  • this will increase the price of cloth relative to the imported good.

Questão 16

Questão
Suppose that a "small country" experiences growth strongly biased toward its export, cloth
Responda
  • this will have no effect on terms of trade for the country's trading partner.
  • this will tend to worsen the country's terms of trade.
  • this will tend to improve the country's terms of trade.
  • this will tend to worsen terms of trade for the country's trading partner.
  • this will tend to improve terms of trade for the country's trading partner.

Questão 17

Questão
Refer to the figure above, which shows a country's possible production possibility frontiers and indifference curves. If the country is producing at __________, then moving to ___________ will cause utility to ___________________.
Image:
67972805-12cd-4e3a-ac24-e7b437d6d9e1 (image/jpeg)
Responda
  • point c; point b; remain unchanged
  • point a; point b; increase
  • point c; point b; increase
  • point c; point b; decrease
  • point a; point c; remain unchanged

Questão 18

Questão
Refer to the figure above, which shows a country's possible production possibility frontiers and indifference curves. If the country is producing at __________, then moving to ___________ will cause utility to ___________________.
Image:
77964a98-d04b-4b8d-9167-1e7946001467 (image/jpeg)
Responda
  • point b; point a; increase
  • point a; point b; increase
  • point c; point b; increase
  • point c; point b; decrease
  • point a; point c; remain unchanged

Questão 19

Questão
If the U.S. (a large country) imposes a tariff on its imported good, this will tend to
Responda
  • improve the terms of trade of the United States.
  • have no effect on terms of trade.
  • improve the terms of trade of all countries.
  • cause a deterioration of U.S. terms of trade.
  • raise the world price of the good imported by the United States.

Questão 20

Questão
If Slovenia is a small country in world trade terms, then if it imposes a large series of tariffs on many of its imports, this would
Responda
  • have no effect on its terms of trade.
  • improve its terms of trade.
  • deteriorate its terms of trade.
  • decrease its marginal propensity to consume.
  • increase its exports.

Questão 21

Questão
If Slovenia is a large country in world trade, then if it imposes a large set of tariffs on many of its imports, this would
Responda
  • improve its terms of trade.
  • have no effect on its terms of trade.
  • harm its terms of trade.
  • decrease its marginal propensity to consume.
  • increase its exports.

Questão 22

Questão
If Slovenia were a large country in world trade, then if it imposes a large set of tariffs on its imports, this must
Responda
  • decrease the internal price of imports below the world market rate.
  • cause retaliation on the part of its trade partners.
  • harm Slovenia's real income.
  • improve Slovenia's real income.
  • improve the real income of its trade partners.

Questão 23

Questão
If Slovenia were a large country in world trade, then if it instituted a large set of subsidies for its exports, this must
Responda
  • harm its terms of trade.
  • have no effect on its terms of trade.
  • improve its terms of trade.
  • decrease its marginal propensity to consume.
  • harm world terms of trade.

Questão 24

Questão
If Slovenia were a large country in world trade, then if it instituted a large set of subsidies for its exports, this must
Responda
  • improve the real income of its trade partners.
  • cause retaliation on the part of its trade partners.
  • harm Slovenia's real income.
  • improve Slovenia's real income.
  • increase internal prices above the world market rate.

Questão 25

Questão
If a small country were to levy a tariff on its imports then this would
Responda
  • decrease the country's economic welfare.
  • have no effect on that country's economic welfare.
  • increase the country's economic welfare.
  • change the terms of trade.
  • raise prices on its exports in other countries.

Questão 26

Questão
An increase in a country's net commodity terms of trade will
Responda
  • not always guarantee positive changes in the country's economy.
  • always increase the country's economic welfare.
  • always increase the country's real income.
  • never increase the country's quantity of exports.
  • always increase the country's production of its import competing good.

Questão 27

Questão
An import tariff will cause the relative demand for ____________ to ________________ and the relative supply for _______________ to ________________.
Responda
  • imports; decrease; imports; increase
  • imports; increase; imports; decrease
  • exports; increase; exports; decrease
  • exports; decrease; exports; increase
  • exports; increase; imports; decrease

Questão 28

Questão
An export subsidy will cause the relative demand for _______________ to ________________ and the relative supply for ______________ to ______________.
Responda
  • exports; decrease; exports; increase
  • imports; decrease; imports; increase
  • imports; increase; imports; decrease
  • exports; increase; exports; decrease
  • exports; increase; imports; decrease

Questão 29

Questão
An import tariff will cause the terms of trade of the _______________ country to ______________ and will _______________ the country.
Responda
  • importing; improve; benefit
  • exporting; improve; benefit
  • importing; suffer; harm
  • exporting; improve; harm
  • importing; improve; harm

Questão 30

Questão
An export subsidy will cause the terms of trade of the ____________ country to ____________ and will ______________ the country.
Responda
  • exporting; suffer; harm
  • exporting; improve; benefit
  • importing; suffer; harm
  • importing; suffer; benefit
  • importing; improve; harm

Questão 31

Questão
International borrowing and lending may be interpreted as one form of
Responda
  • intertemporal trade.
  • intermediate trade.
  • trade in services.
  • unrequited international transfers.
  • aid to offset trade advantages.

Questão 32

Questão
If one observes that Japan was traditionally a net foreign lender, one could conclude that relative to its international trade and financial partners
Responda
  • Japan's intertemporal production possibilities are biased toward present consumption.
  • Japan's intertemporal production possibilities are biased toward future consumption.
  • Japan's intertemporal production possibilities are larger than that of the other countries.
  • Japan's intertemporal production possibilities are not biased.
  • Japan preferred to consume beyond its production in the present.

Questão 33

Questão
Rapidly growing developing countries tend to be borrowers on the international capital markets. From this information we may surmise that they have a comparative advantage in
Responda
  • future income.
  • capital goods.
  • disposable income.
  • consumer goods.
  • present income.

Questão 34

Questão
It may be argued that theoretically, international capital movements
Responda
  • tend to hurt labor in donor countries.
  • tend to hurt the donor countries.
  • tend to hurt the recipient countries.
  • tend to hurt labor in recipient countries.
  • increase future production in donor countries.

Questão 35

Questão
The intertemporal tradeoff between present and future consumption is measured by the
Responda
  • real interest rate.
  • inflation rate.
  • nominal interest rate.
  • terms of trade.
  • rate of economic growth.

Questão 36

Questão
A fall in the real interest rate, all other things held constant, will cause a country's ___________ to ______________.
Responda
  • current consumption; increase
  • current consumption: decrease
  • terms of trade; improve
  • terms of trade; worsen
  • welfare level; improve

Questão 37

Questão
An increase in the real interest rate, all other things held constant, will cause a country's ____________ to _______________.
Responda
  • current consumption: increase
  • current consumption; decrease
  • terms of trade; improve
  • terms of trade; worsen
  • welfare level; improve

Questão 38

Questão
The price of _____________ consumption in terms of _________________ consumption is ____________________.
Responda
  • future; current; 1/(1+r)
  • present; future; 1/(1 + r)
  • future; current; r
  • present; future; r
  • future; current; 1 + r

Questão 39

Questão
The intertemporal budget constraint is defined as:
Responda
  • DP + DF/(1+r) = QP + QF/(1+r)
  • V = QP + QF/(1 + r)
  • V = DP + DF/(1 + r)
  • DF + DP/(1 + r) = QF + QP/(1 + r)
  • DP + DF(1 + r) = QP + QF(1 + r)

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