econ 2003 - international trade
Terms in this set (87)
In international trade and from Blank 1: imports
the point of view of the U.S.,
_________________include
Japanese
motorcycles Chinese
clothing and Colombian
coffee. (Remember enter only
one word in the blank.
The income earned by C: quota rent.
whoever has the right to
import the good at the world
price and sell it in the
domestic market at the
higher quota price is:
A: accounting
profit. B: trade
rent.
C: quota rent.
D: economic profit.
One of the major themes in TRUE
economics is that
international trade creates
gains.
Tru
e
Fal
se
,The model and concepts A: similar to those used to illustrate the effects of trade between two
used to develop the individuals.
economics of international
trade are:
A: similar to those used to
illustrate the effects of trade
between two individuals. B:
similar to the production
possibilities model.
C: similar to the circular flow
model.
D: not similar to those used to
illustrate the effects of trade
between two individuals.
Gains from trade can be B: comparing the levels of consumption available before and after the
measured by: trade.
A: identifying the parties in the
trade and comparing their
overall income.
B: comparing the levels of
consumption available before
and after the trade.
C: counting the units of goods
traded.
D: comparing the units of goods
traded.
The goods and services made Blank 1: imports
in other countries that we
purchase are called
_______. (Enter only one word in
the blank.)
Europeans purchase wine A: increased variety of goods.
produced in California and
Argentina to have more
choice. The benefit of
international trade that
applies in this case is:
A: increased variety of
goods. B: lower-cost
goods.
C: access to scarce resources.
, The size of the quota The size B: quota rent.
of the quota times the
difference between the
quota price and the world
price is known as the dollar
value of:
A: quota
ceiling. B:
quota rent.
C: quota.
D: quota floor.
As of 2016, more than 15% of all TRUE
goods and services consumed
in the United States were
produced abroad.
Tru
e
Fal
se
Terms in this set (87)
In international trade and from Blank 1: imports
the point of view of the U.S.,
_________________include
Japanese
motorcycles Chinese
clothing and Colombian
coffee. (Remember enter only
one word in the blank.
The income earned by C: quota rent.
whoever has the right to
import the good at the world
price and sell it in the
domestic market at the
higher quota price is:
A: accounting
profit. B: trade
rent.
C: quota rent.
D: economic profit.
One of the major themes in TRUE
economics is that
international trade creates
gains.
Tru
e
Fal
se
,The model and concepts A: similar to those used to illustrate the effects of trade between two
used to develop the individuals.
economics of international
trade are:
A: similar to those used to
illustrate the effects of trade
between two individuals. B:
similar to the production
possibilities model.
C: similar to the circular flow
model.
D: not similar to those used to
illustrate the effects of trade
between two individuals.
Gains from trade can be B: comparing the levels of consumption available before and after the
measured by: trade.
A: identifying the parties in the
trade and comparing their
overall income.
B: comparing the levels of
consumption available before
and after the trade.
C: counting the units of goods
traded.
D: comparing the units of goods
traded.
The goods and services made Blank 1: imports
in other countries that we
purchase are called
_______. (Enter only one word in
the blank.)
Europeans purchase wine A: increased variety of goods.
produced in California and
Argentina to have more
choice. The benefit of
international trade that
applies in this case is:
A: increased variety of
goods. B: lower-cost
goods.
C: access to scarce resources.
, The size of the quota The size B: quota rent.
of the quota times the
difference between the
quota price and the world
price is known as the dollar
value of:
A: quota
ceiling. B:
quota rent.
C: quota.
D: quota floor.
As of 2016, more than 15% of all TRUE
goods and services consumed
in the United States were
produced abroad.
Tru
e
Fal
se
