TESTBANK for 18th Edition Robert Carbaugh International Economics - Instant Download TESTBANK

, TESTBANK for International Economics, 18th
Edition Robert Carbaugh
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,Chapter 01: The International Economy and Globalization
1. Which of the following is a dimension of integration into the world economy?
a. Fair labor standards.
b. Flexible exchange rates.
c. Decreased foreign competition.
d. Dependence on imported materials.

ANSWER: d
FEEDBACK: a.
b.
c.
d. Integration involves several dimensions, including the
dependence on imported materials.
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG: - Analytic
STATE STANDARDS: United States - PA - DISC1: - Gains from trade, specialization, and
trade
TOPICS: The United States as an Open Economy
KEYWORDS: BLOOM'S: Understand

2. Which of the following is a disadvantage of globalization?
a. Living standards can increase more rapidly.
b. Global competition and cheap imports keep a constraint on prices.
c. Easier access to foreign investment and low interest rates.
d. Companies building state-of-the-art factories in low-wage countries.

ANSWER: d
FEEDBACK: a.
b.
c.
d. American employees can lose their competitiveness when
companies build state-of-the-art factories in low-wage
countries, making them as productive as those in the United
States.
POINTS: 1
DIFFICULTY: Challenging
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG: - Analytic
STATE STANDARDS: United States - PA - DISC1: - Gains from trade, specialization, and
trade
TOPICS: Has Globalization Gone Too Far?
KEYWORDS: BLOOM'S: Remember

3. Which statement about globalization is true?
a. It has led to more quotas on trade around the world.
b. It is a purely economic term used to describe interrelated global markets.
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, c. It has been fueled by trade, immigration, and foreign investment.
d. It is the process by which more countries are becoming economically self-sufficient around
the globe.

ANSWER: c
FEEDBACK: a.
b.
c. Globalization consists of the increased interaction of product and resource ma
nations via trade, immigration, and foreign investment.
d.
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG: - Analytic
STATE STANDARDS: United States - PA - DISC1: - Gains from trade, specialization, and trade
TOPICS: Globalization of Economic Activity
KEYWORDS: BLOOM'S: Understand

4. Which statement is true about import restrictions?
a. They decrease the volume of exports.
b. They lead to more jobs for domestic workers.
c. They decrease imports and increase exports.
d. They are more conducive to prosperity than free trade.

ANSWER: a
FEEDBACK: a. Trade restrictions that decrease the volume of imports will also
decrease exports.
b.
c.
d.
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG: - Analytic
STATE STANDARDS: United States - PA - DISC1: - Gains from trade, specialization, and
trade
TOPICS: Common Fallacies of International Trade
KEYWORDS: BLOOM'S: Understand

5. Most of the world's population now lives in nations that are
a. integrated or becoming integrated into world markets.
b. trying to overcome economic isolation.
c. cutting back on foreign investment.
d. economically independent.

ANSWER: a
FEEDBACK: a. In today’s world, no nation exists in economic isolation.
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