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28 Mar 2018
Please answer all of the following multiple choice questions... Thank you!
8. Hours to Produce One Unit
Worker hours to produce yarn Worker hours to produce fabric Additional worker hours to produce fabric instead of yarn Country A 8
12
?
Country B 4
13
?
© 2013 FLVS
Based on the data in the chart, which of the following scenarios presents the most efficient use of resources? (5 points)
Country A produces yarn and fabric, and Country B imports both Country A produces yarn, and Country B produces fabric Country B produces yarn, and Country A produces fabric Country B produces yarn and fabric, and Country A imports both
9. Worker hours to produce one unit of oil Worker hours to produce one unit of natural gas Brazil 8
4
Argentina 10
2
Mexico 7
3
United States 6
1
According to the chart, which country has an absolute advantage over the other countries in oil production? (5 points)
Brazil Mexico Argentina United States
10. U.S. companies have made fewer manufacturing contracts with China in the last few years, preferring other countries in the region. Which of the following is a potential reason? (5 points) China has most-favored-nation trade status with the United States. China has large reserves of cheap labor and can produce inexpensive goods. China's standard of living has increased, and workers are requesting more pay. Shipping costs from China over the Pacific Ocean have decreased.
11. The U.S. government wants to restrict Nation A's access to weapons-making materials. Which of the following actions will it most likely take? (5 points) Establish a free-trade zone with Nation A Impose tariffs on certain goods imported from Nation A Institute an embargo on trade in certain items with Nation A Place a quota on certain types of goods Nation A can export
12. Because the United States has an embargo on Cuba, (5 points) the United States regularly increases the taxes on Cuban imports Cuba exports the majority of Cuban products to American companies virtually no Cuban products are legally available in the United States Cuba must sell products directly to state governments in the United States
13. Globalization increases the interdependency of the world's countries. Inflation in one country would most likely (5 points) not impact inflation in other countries cause deflation in other countries result in stagflation in other countries relate to inflation in other countries
Please answer all of the following multiple choice questions... Thank you!
| 8. |
© 2013 FLVS Based on the data in the chart, which of the following scenarios presents the most efficient use of resources? (5 points) | ||||||||||||||||
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| 9. |
According to the chart, which country has an absolute advantage over the other countries in oil production? (5 points) | |||||||||||||||
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| 10. | U.S. companies have made fewer manufacturing contracts with China in the last few years, preferring other countries in the region. Which of the following is a potential reason? (5 points) | ||||||||
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| 11. | The U.S. government wants to restrict Nation A's access to weapons-making materials. Which of the following actions will it most likely take? (5 points) | ||||||||
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| 12. | Because the United States has an embargo on Cuba, (5 points) | ||||||||
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| 13. | Globalization increases the interdependency of the world's countries. Inflation in one country would most likely (5 points) | ||||||||
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Jamar FerryLv2
29 Mar 2018
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