10e_Test Bank_Chapter 09_Final

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1、File:Chapter09InternationalTradePolicy,ComparativeAdvantage,ExchangeRates,andGlobalizationTrue/False[QUESTION]1.TheUnitedStateshasatradedeficitwhenthevalueofthegoodsandservicesweimportexceedsthevalueofthegoodsandservicesweexport.Ans:TrueAACSB:ReflectiveThin

2、kingBloom’s:RememberDifficulty:01EasyLearningObjective:09-01Topic:ThePrincipleofComparativeAdvantageFeedback:Seethedefinitionofatradedeficitinthetextbook.[QUESTION]2.WecanconcludefromthetableshownthatSpainhasacomparativeadvantageintheproductionoftables.Labo

3、rInputtoProduceChairsandTablesMoroccoSpainChair31Table105Ans:FalseAACSB:AnalyticBloom’s:ApplyDifficulty:03HardLearningObjective:09-01Topic:ThePrincipleofComparativeAdvantageFeedback:TheopportunitycostofatableinMoroccois31/3chairs;inSpain,itis5chairs.SinceMo

4、roccohasaloweropportunitycost,ithasacomparativeadvantageinproducingtables.[QUESTION]3.WecanconcludefromthetableshownthatMoroccohasacomparativeadvantageintheproductionoftables.LaborInputtoProduceChairsandTablesMoroccoSpainChair31Table105Ans:TrueAACSB:Analyti

5、cBloom’s:ApplyDifficulty:03Hard©2017byMcGraw-HillEducation. Thisisproprietarymaterialsolelyforauthorizedinstructoruse.Notauthorizedforsaleordistributioninanymanner. Thisdocumentmaynotbecopied,scanned,duplicated,forwarded,distributed,orpostedonawebsite,inwho

6、leorpart. LearningObjective:09-01Topic:ThePrincipleofComparativeAdvantageFeedback:TheopportunitycostofatableinMoroccois31/3chairs;inSpain,itis5chairs.SinceMoroccohasaloweropportunitycost,ithasacomparativeadvantageinproducingtables.[QUESTION]4.Acurrencyhasde

7、preciatedinvalueifittakesmoreofaforeigncurrencytobuyit.Ans:False.AACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:09-04Topic:DeterminationofExchangeRatesandTradeFeedback:Seethedefinitionofdepreciationinthetext.[QUESTION]5.Economicm

8、odelstakeintoaccounttheeffectoftradeonthedistributionofincome.Ans:FalseAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:09-03Topic:SourcesofU.S.ComparativeAdvantageFeedback:Ec