Question 1

The Rybczynski theorem postulates that doubling L at constant relative commodity prices:

Accepted Answer

A)  doubles the output of the L-intensive commodity 
B)  reduces the output of the K-intensive commodity 
C)  increases the output of both commodities 
D)  reduces the output of both commodities 
A)  doubles the output of the L-intensive commodity 
B)  reduces the output of the K-intensive commodity 
C)  increases the output of both commodities 
D)  reduces the output of both commodities

Question 2

Immiserizing growth is most likely in which of the following cases?

Accepted Answer

A)  When the country is small. 
B)  When the demand for the nation's export good is inelastic. 
C)  In developed countries. 
D)  When growth causes the terms of trade to improve. 
A)  When the country is small. 
B)  When the demand for the nation's export good is inelastic. 
C)  In developed countries. 
D)  When growth causes the terms of trade to improve.

Question 3

How does a change in tastes that shifts in a nation's offer curve toward the axis measuring its exportable commodity impact the nation?

Accepted Answer

Such a shift tends t

Question 4

If,at unchanged terms of trade,a nation wants to trade more after growth,then for a large country,the nation's terms of trade can be expected to:

Accepted Answer

A)  deteriorate 
B)  improve 
C)  remain unchanged 
D)  any of the above 
A)  deteriorate 
B)  improve 
C)  remain unchanged 
D)  any of the above

Question 5

Doubling only the amount of L available under constant returns to scale:

Accepted Answer

A)  less than doubles the output of the L-intensive commodity 
B)  more than doubles the output of the L-intensive commodity 
C)  doubles the output of the K-intensive commodity 
D)  leaves the output of the K-intensive commodity unchanged 
A)  less than doubles the output of the L-intensive commodity 
B)  more than doubles the output of the L-intensive commodity 
C)  doubles the output of the K-intensive commodity 
D)  leaves the output of the K-intensive commodity unchanged

Question 6

Technical progress that increases the productivity of L proportionately more than the productivity of K is called:

Accepted Answer

A)  capital saving 
B)  labor saving 
C)  neutral 
D)  any of the above 
A)  capital saving 
B)  labor saving 
C)  neutral 
D)  any of the above

Question 7

Carefully identify and discuss the conditions which can lead to immiserizing growth.

Accepted Answer

The overall impact of growth depends on

Question 8

Technical progress in the nation's export commodity:

Accepted Answer

A)  may reduce the nation's welfare 
B)  will reduce the nation's welfare 
C)  will increase the nation's welfare 
D)  leaves the nation's welfare unchanged 
A)  may reduce the nation's welfare 
B)  will reduce the nation's welfare 
C)  will increase the nation's welfare 
D)  leaves the nation's welfare unchanged

Question 9

Technical progress is usually classified into all of the following except

Accepted Answer

A)  neutral 
B)  negative 
C)  labor saving 
D)  capital saving 
A)  neutral 
B)  negative 
C)  labor saving 
D)  capital saving

Question 10

Dynamic factors in trade theory refer to changes in all of the above except:

Accepted Answer

A)  factor endowments 
B)  technology 
C)  tastes 
D)  tariff structure 
A)  factor endowments 
B)  technology 
C)  tastes 
D)  tariff structure

The Rybczynski theorem postulates that doubling L at constant relative commodity prices:

Immiserizing growth is most likely in which of the following cases?

How does a change in tastes that shifts in a nation's offer curve toward the axis measuring its exportable commodity impact the nation?

If,at unchanged terms of trade,a nation wants to trade more after growth,then for a large country,the nation's terms of trade can be expected to:

Doubling only the amount of L available under constant returns to scale:

Technical progress that increases the productivity of L proportionately more than the productivity of K is called:

Carefully identify and discuss the conditions which can lead to immiserizing growth.

Technical progress in the nation's export commodity:

Technical progress is usually classified into all of the following except

Dynamic factors in trade theory refer to changes in all of the above except:

Introduction

The Law of Comparative Advantage

The Standard Theory of International Trade

Demand and Supply, offer Curves, and the Terms of Trade

Factor Endowments and the Heckscherohlin Theory

Economies of Scale, imperfect Competition, and International Trade

Trade Restrictions: Tariffs

Nontariff Trade Barriers and the New Protectionism

Economic Integration: Customs Unions and Free Trade Areas

International Trade and Economic Development

International Resource Movements and Multinational Corporations

Balance of Payments

Foreign Exchange Markets and Exchange Rates

Exchange Rate Determination

The Price Adjustment Mechanism With Flexible and Fixed Exchange Rates

The Income Adjustment Mechanism and Synthesis of Automatic Adjustments

Open Economy Macroeconomics: Adjustment Policies

Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply

Flexible Versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination

The International Monetary System: Past, present, and Future Answers to Selected Problems on Web

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Exam 7: Economic Growth and International Trade

The Rybczynski theorem postulates that doubling L at constant relative commodity prices:

Immiserizing growth is most likely in which of the following cases?

How does a change in tastes that shifts in a nation's offer curve toward the axis measuring its exportable commodity impact the nation?

If,at unchanged terms of trade,a nation wants to trade more after growth,then for a large country,the nation's terms of trade can be expected to:

Doubling only the amount of L available under constant returns to scale:

Technical progress that increases the productivity of L proportionately more than the productivity of K is called:

Carefully identify and discuss the conditions which can lead to immiserizing growth.

Technical progress in the nation's export commodity:

Technical progress is usually classified into all of the following except

Dynamic factors in trade theory refer to changes in all of the above except:

Introduction

The Law of Comparative Advantage

The Standard Theory of International Trade

Demand and Supply, offer Curves, and the Terms of Trade

Factor Endowments and the Heckscherohlin Theory

Economies of Scale, imperfect Competition, and International Trade

Trade Restrictions: Tariffs

Nontariff Trade Barriers and the New Protectionism

Economic Integration: Customs Unions and Free Trade Areas

International Trade and Economic Development

International Resource Movements and Multinational Corporations

Balance of Payments

Foreign Exchange Markets and Exchange Rates

Exchange Rate Determination

The Price Adjustment Mechanism With Flexible and Fixed Exchange Rates

The Income Adjustment Mechanism and Synthesis of Automatic Adjustments

Open Economy Macroeconomics: Adjustment Policies

Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply

Flexible Versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination

The International Monetary System: Past, present, and Future Answers to Selected Problems on Web

Filters