International Economics by Thomas Pugel 17th Edition-Test Bank

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International Economics by Thomas Pugel 17th Edition-Test Bank

ISBN-10:1260004732 ; ISBN-13:978-1260004731

International Economics, 17e (Pugel)
Chapter 7 Growth and Commerce

1) Which of the following is doubtless one of many primary sources of long-run monetary improvement?
A) An enlargement of worldwide gross residence product (GDP)
B) An increase in demand for the nation’s importable product
C) An enchancment in manufacturing utilized sciences
D) An low cost in native shopping for of the nation’s exportable merchandise

2) Inside the decide beneath, we see an enlargement of the production-possibility curve (from PPC1 to PPC2). The two gadgets produced are wheat and material, which can be land-intensive and labor-intensive, respectively. The outward shift of the production-possibility curve reveals

A) biased improvement.
B) balanced improvement.
C) a switch from a no-trade state of affairs to free commerce.
D) an increase throughout the manufacturing costs of every gadgets.

3) Inside the decide beneath, we see an enlargement of the production-possibility curve (from PPC1 to PPC2). The two gadgets produced are wheat and material, which can be land-intensive and labor-intensive, respectively. The outward shift of the production-possibility curve might be going the outcomes of

A) a fall throughout the widespread worth of producing material.
B) an increase throughout the value of material.
C) an increase throughout the dimension of the labor stress, the realm beneath cultivation remaining unchanged.
D) an increase throughout the nationwide amount of usable land, the scale of the labor stress remaining unchanged.

4) Which of the following statements is true?
A) Will improve in a country’s endowments of land, labor, and capital will lead to long-run monetary improvement.
B) Enhancements throughout the know-how utilized in manufacturing can lead to will improve in current output ranges nonetheless is not going to be a provide of long-run monetary improvement.
C) Enhancements in manufacturing know-how do not impact the shape or place of the production-possibility curve.
D) Biased improvement ends in a proportionate shift throughout the production-possibility curve.

5) In a country that produces solely wine and weapons, which of the following is least vulnerable to lead to biased improvement?
A) The amount of usable land has elevated significantly.
B) The aid of migration authorized pointers has led to an unlimited influx of unskilled staff.
C) The know-how used to offer weapons improves whereas the know-how used to offer wine would not change.
D) The relative value of weapons throughout the worldwide market changes.

6) The Rybczynski theorem asserts that in a two-good model, assuming that product prices preserve fastened, improvement throughout the endowment of 1 problem of producing with the alternative problem remaining unchanged, will result in
A) an equal enhance throughout the output of every gadgets.
B) an increase throughout the output of the great that makes use of the rising problem intensively and a decrease throughout the output of the alternative good.
C) an increase throughout the output of every gadgets, nonetheless a relatively bigger enhance throughout the output of the great that makes use of the rising problem intensively.
D) an increase throughout the output of the great that makes use of the rising problem intensively, nonetheless the output stage of the alternative good will keep unchanged.

7) Assume {{that a}} capital-abundant nation trades solely two gadgets with the rest of the world, medical instruments and corn. Medical instruments is relatively capital-intensive. In response to the Rybczynski theorem, with the relative value of the merchandise remaining unchanged, an increase throughout the nation’s endowment of capital will set off the output of medical instruments to ________ and the output of corn to
A) rise; fall.
B) fall; rise.
C) rise; keep the similar.
D) keep the similar; fall.

8) Assume {that a} massive capital-abundant nation trades solely two gadgets with the rest of the world, medical instruments and corn. Medical instruments is relatively capital-intensive. An increase throughout the nation’s endowment of capital will set off the worth of medical instruments relative to the worth of corn to
A) rise.
B) fall.
C) preserve the similar.
D) rise at first after which fall.

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International Economics by Thomas Pugel 17th Edition-Test Bank
International Economics by Thomas Pugel 17th Edition-Test Bank

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