Which types of workers are most likely to favor lowering trade barriers in the United States?
What will be an ideal response?
Question 2 - The absorption approach is a theory of the balance of payments that emphasizes how domestic spending on domestic goods changes relative to domestic output.
Indicate whether the statement is true or false
Question 3 - A major reason for creating the European Monetary System was to
A) create a single currency.
B) unify banking laws and permit cross-border investment.
C) avoid competitive devaluations.
D) reduce the costs of changing currencies.
E) eliminate the need for central banks.
Question 4 - In the past half century, the developing countries have experienced major compositional shifts from exports of primary products (including agricultural and raw materials) to exports of manufactures.
How might you explain this in terms of broad historical developments during this period?
Question 5 - If an economy experiences an increase in its capital stock, everything else constant, then at constant world prices, it will
A) produce more of the labor intensive good and less of the capital intensive good.
B) produce more of both goods.
C) produce the same amount of both goods.
D) produce less of the labor intensive good and more of the capital intensive good.
Question 6 - The share of ________ goods in employment is ________ across the country. The share of ________ goods in employment is ________ across the country.
A) nontraded; uniform; traded; variable
B) traded; uniform; nontraded; variable
C) durable; uniform; nondurable; variable
D) nondurable; uniform; durable; variable
E) nontraded; variable; traded; uniform
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