Exam 10: International Trade and Economic Growth

________ policies refer to government programs designed to exploit natural comparative advantage by increasing production of a few export goods most closely related to a country's resource base.

If an economy experiences an increase in its labor force,everything else constant,then at constant world prices,it will

________ would likely oppose policies that allowed foreign workers to immigrate more freely.

As a candidate for president of the United States,Barak Obama was an ardent supporter of outsourcing.

What is immizerizing growth? Describe how it could happen and give at least one cited historical example.

International factor flows tend to lower incomes of those factors in host countries that most directly substitute for that factor,and to raise the incomes of other factors.

Import-substitution development policies have been especially effective in promoting employment in newly industrializing sectors because these policies discourage the import of foreign capital goods.

If an economy experiences an increase in its capital stock,everything else constant,then at constant world prices,it will

Economic growth at constant prices will never lead to a fall in the output of one good.

Developing countries that concentrate production in agricultural products or raw materials may face a secular decline in their international terms of trade due to

A government program that relies on high barriers to imported goods in order to stimulate domestic production of competing goods is an example of a(n)________ policy.

________ economic growth occurs when,after growth,exports and imports rise by the same proportion.

The brain drain refers to the effects of Dutch Disease when the infection spreads to other countries.

If an economy experiences an increase in its labor force,everything else constant,then at constant world prices,it will

If an economy experiences an increase in its capital stock,everything else constant,then its production possibilities frontier (PPF)will

Economic growth at constant world prices will ________ cause the output of one good to fall absolutely.

Immigration tends to lower the income of all factors of production.

Write an essay that compares and contrasts primary-export-led development policies with import-substitution policies.

Recent guest worker programs have involved temporary migration from

A government program that attempts to stimulate growth in the production of goods in which the country has a potential future comparative advantage is an example of a(n)________ policy.