1. Study Questions #1. Ch1. Which of the following factors explain why the world
ID: 1139027 • Letter: 1
Question
1. Study Questions #1. Ch1.
Which of the following factors explain why the world's trading nations have become increasingly interdependent, from an economic and political viewpoint, during the post-World War II era? Check all that apply.
The liberalization of investment
The development of international financial markets
The aging of the Western population
The rapid decline of Asian nations
2. Study Questions #2. Ch 1.
Which of the following are major arguments for an open trading system? Check all that apply.
It causes the displacement of domestic firms and workers.
It leads to higher prices.
It leads to lower prices.
It enables the development of more efficient production methods.
3. Study Questions #3. Ch 1.
What significance does growing economic interdependence have for a country like the United States? Check all that apply.
The U.S. agricultural sector increasingly benefits from free trade.
Exports and imports increase as a share of national output.
International political and economic events have an increasingly important effect on energy prices in the United States.
Exports and imports decrease as a share of national output.
4. Study Questions #4. Ch 1.
Evaluate the following statement.
True or False: The volume of international trade is governed by factors including the level of domestic economic activity (for example, prosperity versus recession) and restrictions imposed by countries on their imports.
True
False
5. Study Questions #5. Ch 1.
Which of the following are major misconceptions about international trade? Check all that apply.
Trade is a zero-sum activity.
Tariffs and quotas increase unemployment.
Imports reduce employment.
Imports increase employment.
6. Study Questions #6. Ch 1.
Which of the following correctly describe how the concept of international competitiveness applies to a nation? Check all that apply.
Nations benefit from specialization and by exporting products for which they have a comparative advantage.
Some nations can be net exporters of everything.
Only the industries that have an absolute advantage should be exporting their products.
No nation can be equally competitive in everything.
7. Study Questions #7. Ch 1.
Complete the following statement.
Researchers have found that companies exposed to global competition tend to be BLANK those that are not.
as productive as
more productive than
less productive than
8. Study Questions #8. Ch 1.
Why is international trade sometimes a threat for workers?
Wages in exporting industries tend to fall due to trade.
Import-competing industries suffer job loss as a result of trade.
Productivity in import-competing industries declines due to trade.
9. Study Questions #9. Ch 1.
Which of the following are challenges confronting the international trading system? Check all that apply.
Fair standards for labor
Maintaining environmental quality
Providing free education
Maintaining a healthy rate of technological progress
10. Study Questions #10. Ch 1.
Evaluate the following statement.
The threat of international terrorism tends to slow globalization and make it costlier. If terrorism is perceived as a threat, companies must pay more to insure their property and provide security for overseas staff.
True
False
Explanation / Answer
Solution 1 :- A and B
Solution 2 :- C and D
Solution 3 :- The correct answer is C that is Exports and imports increase as a share of national output.
Solution 4 :- True :- the volume of international trade are the level of domestic economic activity (e.g., prosperity versus recession), which influences the level of demand of one nation’s residents for the goods and services of other nations, and restrictions (such as tariffs and quotas) imposed by countries on their imports.Judge the “Labor and Capital,” as well as “Common Fallacies of International Trade.
As per chegg policy there is a need to answer only four subparts in case of many questions
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