100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Test Bank for International Economics 4th Edition by Feenstra $15.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. International Economics
  4.  
  5. International Economics

Exam (elaborations)

Test Bank for International Economics 4th Edition by Feenstra
 23 views  1 purchase
  • Course
  • International Economics
  • Institution
  • International Economics
  • Book
  • International Economics

Test Bank for International Economics 4th Edition by Feenstra (Comprehensive Guide for your Exam)

Preview 4 out of 101  pages

Document information

  • October 28, 2022
  • 101
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • test bank for international economics 4th edition by feenstra
  • test bank for international economics 4th edition by feenstra
  • test bank for international economics 4th edition

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

  • Test Bank for International Economics 5th Edition by Robert C. Feenstra (Author), Alan M. Taylor (Author)
All for this textbook (2)

Written for

  • International Economics
All documents for this subject (213)

Seller

avatar-seller
QuizMerchant

Reviews received

Content preview

Test Bank for International Economics 4th Edition by Feenstra



1. Which of the following is NOT a reason why countries trade goods with one another?
A) differences in technology used in different countries
B) differences in countries' total amount of resources
C) the proximity of countries to one another
D) differences in countries' languages and cultures


2. David Ricardo's model explains trade based on:
A) labor supply.
B) technology.
C) population.
D) government control.


3. Which of the following is the MOST likely explanation for a Detroit construction
company's imports of concrete blocks made in Windsor, Ontario?
A) the Ricardian model
B) offshoring
C) technology
D) proximity


4. What is the MOST likely reason why neighboring nations engage in trade?
A) labor availability
B) similar tastes and preferences
C) proximity
D) shared membership in a free-trade area


5. A country's factors of production includes:
A) its labor, capital, natural resources, and markets.
B) only its labor and capital.
C) only its capital and natural resources.
D) its labor, capital, and natural resources.


6. Which of the following is NOT considered to be a factor of production?
A) labor
B) capital
C) natural resources
D) government




Page 1

,
, 7. When a firm in one nation purchases unfinished products internationally and adds
further processing to sell in the domestic market, this is known as:
A) barter.
B) offshoring.
C) factor movement.
D) marketing arrangements.


8. In some cases, a country can export a good without having any advantage in the natural
resources needed to produce it. Which of the following is an example of this type of
export?
A) Austrian exports of snowboards
B) U. S. exports of ―icewine‖
C) Japanese exports of Toyotas
D) Canadian exports of lumber


9. In some cases, a country can export a good without having any advantage in the natural
resources needed to produce it. Which of the following is an example of this type of
export?
A) United Arab Emirates's exports of high-quality snowboards
B) U. S. exports of Caterpillar bulldozers
C) French exports of wine
D) Canadian exports of lumber


10. In trade, if a nation has the technology to produce a good with fewest resources (such as
Germany's production of snowboards), it is known as a(n):
A) absolute advantage.
B) technology advantage.
C) comparative advantage.
D) resource advantage.


11. The Ricardian model focuses on how:
A) countries' resource bases explain international trade.
B) countries' different technologies explain international trade.
C) transportation costs explain international trade.
D) different languages and cultures explain international trade.




Page 2

, 12. When a country requires fewer resources to produce a product than other countries, it is
said to have a(n):
A) absolute advantage in the production of the product.
B) comparative advantage in the production of the product.
C) higher opportunity cost of producing the product.
D) lower opportunity cost of producing the product.


13. When a country requires more resources to produce a product than other countries, it is
said to have a(n):
A) absolute disadvantage in the production of the product.
B) comparative disadvantage in the production of the product.
C) lower opportunity cost of producing the product.
D) higher opportunity cost of producing the product.


14. The primary explanation of trade among nations is Ricardo's theory of:
A) offshoring.
B) resource abundance.
C) absolute advantage.
D) comparative advantage.


15. The Ricardian model focuses on how differences in influence international
trade patterns.
A) demand
B) comparative costs
C) absolute costs
D) transportation costs


16. Ricardo's theory of trade discredited the school of economic thought that believed
inflows of gold or silver as a result of exporting helped a nation, while outflows of gold
or silver as a result of importing hurt a nation. This school of economic thought was
known as:
A) export preference.
B) mercantilism.
C) monetary economics.
D) price-specie-flow mechanism.




Page 3

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller QuizMerchant. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $15.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

53340 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$15.99  1x  sold
  • (0)
Add to cart
Added