Sec_All_True_False_Ch_9_

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1、True/False1. Thehistoryofthetextileindustryraisesimportantquestionsforeconomicpolicy. a. True b. FalseANSWER:  FalseDIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.089-Evaluatethepotentialgainsfromtradeusingcomparativeandabsoluteadvantage.TOPICS:  Internat

2、ionaltradeKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  001.09-TF-MANK082. Tradedecisionsarebasedontheprincipleofabsoluteadvantage. a. True b. FalseANSWER:  FalseDIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.089-Evaluatethepotentialgainsfromtradeusingcompa

3、rativeandabsoluteadvantage.TOPICS:  EconomicthinkingKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  002.09-TF-MANK083. Thesumofconsumerandproducersurplusmeasuresthetotalbenefitsthatbuyersandsellersreceivefromparticipatinginamarket. a. True b. FalseANSWER:  True

4、DIFFICULTY:  ModerateLEARNING OBJECTIVES:  ECON.MANK.089-Evaluatethepotentialgainsfromtradeusingcomparativeandabsoluteadvantage.TOPICS:  InternationaltradeKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  003.09-TF-MANK084. Accordingtotheprincipleofcomparativeadv

5、antage,allcountriescanbenefitfromtradingwithoneanotherbecausetradeallowseachcountrytospecializeindoingwhatitdoesbest. a. True b. FalseANSWER:  TrueDIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.107-Explainhowcomparativeadvantageleadstospecialization.TOPIC

6、S:  ComparativeadvantageProductionpossibilitiesmodelKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  004.09-TF-MANK08CopyrightCengageLearning.PoweredbyCognero.Page 185. Theworldpriceofcottonisthehighestpriceofcottonobservedanywhereintheworld. a. True b. FalseANS

7、WER:  FalseDIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.089-Evaluatethepotentialgainsfromtradeusingcomparativeandabsoluteadvantage.TOPICS:  InternationaltradeKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID:  005.09-TF-MANK086. Iftheworldpriceofagoodisgreaterthant

8、hedomesticpriceinacountrythatcanengageininternationaltrade,thenthatcountrybecomesanimporterofthatgood. a. True b. FalseANSWER:  FalseDIFFICULTY:  ModerateLEARNING OBJECTIVES:  ECON.MANK.276-Givendataon