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Global Markets in Action 9 CLICKER QUESTIONS

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© 2013 Pearson CHECKPOINT 9.1 A.a lower price than; lower B.a higher price than; higher C.a lower price than; higher D.a higher price than; lower E.the same price as; higher Question 1 When Italy buys a Boeing jet, it pays ____ if it produced the jet itself and the price Boeing receives is ____ than what an additional U.S. buyer is willing to pay.

© 2013 Pearson CHECKPOINT 9.1 A.equal to; produce more of; import B.less than; export; produce C.greater than; import; consume D.less than; increase production of the good; import E.greater than; import; produce Question 2 Suppose that the price of a good in a country that does not trade internationally is _____ the world price. If this country starts to trade internationally, it will _____ the good and _____ less of the good.

© 2013 Pearson CHECKPOINT 9.2 A.increases; increases; gains B.decreases; increases; gains C.increases; decreases; gains D.decreases; decreases; loses E.increases; decreases; loses Question 3 When a country exports a good, the country’s producer surplus ____, consumer surplus ____, and the country ____ from the trade.

© 2013 Pearson CHECKPOINT 9.2 A.consumer surplus increases B.producer surplus increases C.consumer surplus does not decrease D.producer surplus does not decrease E.total surplus increases Question 4 International trade based on comparative advantage is in the social interest because ______.

© 2013 Pearson CHECKPOINT 9.3 A.domestic quantity purchased B.domestic quantity produced C.quantity imported D.quantity exported E.world price Question 5 When a tariff is imposed on an imported good, the ____ of that good increases.

© 2013 Pearson CHECKPOINT 9.3 A.win; lose B.lose; lose C.win; win D.lose; win E.lose; neither win nor lose Question 6 When a tariff is imposed on a good, domestic consumers of the good ____ and domestic producers of the good ____.

© 2013 Pearson CHECKPOINT 9.3 A.the domestic government B.domestic producers C.domestic consumers D.domestic importers of the good E.the foreign government Question 7 Which of the following parties benefits from an import quota but not from a tariff?

© 2013 Pearson CHECKPOINT 9.4 A.needs tariffs so that it can compete with countries that have B.should not trade with countries that have C.will not gain from trade with countries with D.does not need tariffs to be able to compete with E.avoids trading with countries that have Question 8 The United States _________ cheap labor.

© 2013 Pearson CHECKPOINT 9.4 A.rent seeking B.to allow competition with cheap foreign labor C.to save jobs D.to prevent dumping E.for national security Question 9 What is a major reason international trade is restricted in developed countries?

© 2013 Pearson CHECKPOINT 9.4 A.the government gains revenue from the tariff B.low-paid domestic workers are protected from high-paid foreign workers. C.the tariff increases the nation’s total income D.the tariff improves its national security E.the tariff helps to diversify the domestic economy Question 10 The major reason most less-developed nations impose tariffs is because _______.