Question 1

Latin America's abundant factor of production is:

Accepted Answer

A)  labor 
B)  capital 
C)  human capital 
D)  technology 
E)  IQ 
A)  labor 
B)  capital 
C)  human capital 
D)  technology 
E)  IQ

Question 2

The effects of trade on the distribution of income are known as what?

Accepted Answer

A)  Heckscher-Ohlin model 
B)  effective rate of protection 
C)  factor-price equalization 
D)  Stopler-Samuelson theorem 
E)  opportunity cost 
A)  Heckscher-Ohlin model 
B)  effective rate of protection 
C)  factor-price equalization 
D)  Stopler-Samuelson theorem 
E)  opportunity cost

Question 3

The one upside of tariffs is that they:

Accepted Answer

A)  increase consumer surplus 
B)  raise revenue for the government 
C)  make goods cheaper domestically 
D)  make goods cheaper internationally 
E)  encourage increased trade 
A)  increase consumer surplus 
B)  raise revenue for the government 
C)  make goods cheaper domestically 
D)  make goods cheaper internationally 
E)  encourage increased trade

Question 4

Trade _____ the price of the abundant factor of production, and _____ the scarce factor of production.

Accepted Answer

A)  increases, increases 
B)  increases, decreases 
C)  decreases, decreases 
D)  decreases, increases 
E)  has no effect on either 
A)  increases, increases 
B)  increases, decreases 
C)  decreases, decreases 
D)  decreases, increases 
E)  has no effect on either

Latin America's abundant factor of production is:

The effects of trade on the distribution of income are known as what?

The one upside of tariffs is that they:

Trade _ the price of the abundant factor of production, and _ the scarce factor of production.

Latin American Economic History

Economic Growth and Latin America

Limits to Growth in Latin America

Growth and the Environment in Latin America

Latin American and Primary Commodities

Import Substitution in Latin America

Exchange-Rate Policy

Financing Current-Account Deficits

Macroeconomic Policy in Latin America

Macroeconomic Stability

Poverty Inequality

Economic Policy Debates in Latin America

Filters

Exam 7: Latin American Trade Policy

Latin America's abundant factor of production is:

The effects of trade on the distribution of income are known as what?

The one upside of tariffs is that they:

Trade _____ the price of the abundant factor of production, and _____ the scarce factor of production.

Latin American Economic History

Economic Growth and Latin America

Limits to Growth in Latin America

Growth and the Environment in Latin America

Latin American and Primary Commodities

Import Substitution in Latin America

Exchange-Rate Policy

Financing Current-Account Deficits

Macroeconomic Policy in Latin America

Macroeconomic Stability

Poverty Inequality

Economic Policy Debates in Latin America

Filters

Trade _ the price of the abundant factor of production, and _ the scarce factor of production.