1、Name: Class: Date: Chapter3-InterdependenceandtheGainsfromTrade1. Whatisthebestreasonforpeopletoprovideyouwithgoodsandservices? a. Theyareactingoutofgenerosity. b. Theyareactingoutoffairness. c. Theydosobecausetheygetsomethinginreturn. d. Theyarerequiredtodosobythegovernment.ANSWE
2、R: c2. Aranchercanproduceonlybeef,whileafarmercanproduceonlypotatoes.Iftherancherandthefarmerlikebothfoods,whichofthefollowingismostlikely? a. Theycannotgainfromtrade. b. Theycouldgainfromtradeundercertaincircumstances,butnotalways. c. Theycouldgainfromtradebecauseeachwouldenjoyagr
3、eatervarietyoffood. d. Theycouldgainfromtradeonlyifeachwereindifferentbetweenbeefandpotatoes.ANSWER: c3. Regangrowsflowersandmakesvases.Jaysonalsogrowsflowersandmakesvases,butReganisbetteratproducingboth.Whohasanabsoluteorcomparativeadvantageinwhatactivity? a. Reganhasanabsoluteadv
4、antageinbothactivities. b. Jaysonhasanabsoluteadvantageinbothactivities. c. Reganhasacomparativeadvantageingrowingflowers. d. Jaysonhasacomparativeadvantageingrowingflowers.ANSWER: a4. Ifthereisnotrade,whichofthefollowingismostlikely? a. Acountryisbetteroffbecauseitwillbecomeself-s
5、ufficient. b. Acountry’sproductionpossibilitiesfrontierisalsoitsconsumptionpossibilitiesfrontier. c. Acountrycanstillbenefitfrominternationalspecialization. d. Acountryhasmoreproductvarietyavailable.ANSWER: b5. Ifthereistrade,whichofthefollowingismostlikely? a. Acountryisworseoffbe
6、causeitbecomesdependentonothercountries. b. Acountrywillproduceagreatervarietyofgoodsandservicestotrade. c. Acountry’sconsumptionpossibilitiesfrontiercanbeoutsideitsproductionpossibilitiesfrontier. d. Acountrywillexperiencealowerunemploymentrate.ANSWER: c6. Whencanacountry’sconsump
7、tionpossibilitiesfrontierbeoutsideitsproductionpossibilitiesfrontier? a. ifadditionalresourcesbecomeavailable b. ifthereisanincreaseintheleveloftechnology c. ifthecountryengagesintrade d. ifresourcesareadaptable.ANSWER: cCopyrightCengageLearning.PoweredbyCognero.Page 43Name: Class
