Question 1

Figure 9-2. The domestic country is China.
  
-Refer to Figure 9-2.With trade,producer surplus in China is

Accepted Answer

A) $800. 
B) $1,200. 
C) $1,800. 
D) $2,700. 
A) $800. 
B) $1,200. 
C) $1,800. 
D) $2,700.

Question 2

A tariff on a product

Accepted Answer

A) is a direct quantitative restriction on the amount of a good that can be imported. 
B) increases the domestic quantity supplied. 
C) increases domestic consumer surplus. 
D) All of the above are correct. 
A) is a direct quantitative restriction on the amount of a good that can be imported. 
B) increases the domestic quantity supplied. 
C) increases domestic consumer surplus. 
D) All of the above are correct.

Question 3

Which of the following individuals asserted in 2004 that the movement of some types of jobs from the United States to overseas was "probably a plus for the economy in the long run?"

Accepted Answer

A) presidential candidate John Kerry 
B) President George W.Bush 
C) presidential economic advisor N.Gregory Mankiw 
D) Speaker of the House Dennis Hastert 
A) presidential candidate John Kerry 
B) President George W.Bush 
C) presidential economic advisor N.Gregory Mankiw 
D) Speaker of the House Dennis Hastert

Question 4

Figure 9-5
  
-Refer to Figure 9-5.Before the tariff is imposed,this country

Accepted Answer

A) imports 200 carnations. 
B) imports 400 carnations. 
C) exports 200 carnations. 
D) exports 400 carnations. 
A) imports 200 carnations. 
B) imports 400 carnations. 
C) exports 200 carnations. 
D) exports 400 carnations.

Question 5

Figure 9-12
  
-Refer to Figure 9-12.Consumer surplus before trade is

Accepted Answer

A) $1,600. 
B) $,2400. 
C) $3,200. 
D) $3,600. 
A) $1,600. 
B) $,2400. 
C) $3,200. 
D) $3,600.

Exam 9: Application: International Trade

Figure 9-2. The domestic country is China. -Refer to Figure 9-2.With trade,producer surplus in China is

A tariff on a product

Which of the following individuals asserted in 2004 that the movement of some types of jobs from the United States to overseas was "probably a plus for the economy in the long run?"

Figure 9-5 -Refer to Figure 9-5.Before the tariff is imposed,this country

Figure 9-12 -Refer to Figure 9-12.Consumer surplus before trade is

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Elasticity and Its Applications

Supply, demand, and Government Policies

Consumers, producers, and the Efficiency of Markets

Application: the Costs of Taxation

Externalities

Public Goods and Common Resources

The Design of the Tax System

The Costs of Production

Firms in Competitive Markets

Monopoly

Oligopoly

Monopolistic Competition

The Markets for the Factors of Production

Earnings and Discrimination

Income Inequality and Poverty

The Theory of Consumer Choice

Frontiers of Microeconomics

Measuring a Nations Income

Measuring the Cost of Living

Production and Growth

Saving, investment, and the Financial System

The Basic Tools of Finance

Unemployment

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomics: Basic Concepts

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short Run Trade Off Between Inflation and Unemployment

Five Debates Over Macroeconomic Policy

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