A. One ton of steel
B. Two tons of steel
C. Three tons of steel
D. Four tons of steel
Related Mcqs:
- In the presences of purchasing power parity, if one-dollar exchanges for 2 British pounds and if a DVD player costs $400 in the United States then in Britain the DVD player should cost ?
A. 200 pounds
B. 400 pounds
C. 600 pounds
D. 800 pounds - The opportunity cost of one DVD in South Korea is ?
A. One-half ton of steel
B. One ton of steel
C. One and one-half tons of steel
D. Two tons of steel - With International trade, what would be the maximum amount of steel that South Korea would be willing to export to Japan in exchange for each DVD ?
A. One-half ton of steel
B. One ton of steel
C. Two tons of steel
D. Two and one-half tons of steel - To maintain its economic position, Japan has often limited the number of cars or the quantity of farm products that the United States can sell in Japan Japan has imposed these limits to develop ?
A. an equality of trade position
B. a favorable balance of trade
C. a more open market
D. a belief system - If the exchange rate between the UK and Japan changes from £1 = 100 yen to £1 = 150 yen then ceteris paribus, the price of UK goods in Japan ?
A. will remain the same
B. will decrease
C. will increase
D. could either increase of decrease - Due to Japan’s high saving rate, suppose that the Japanese invest abroad. This investment may result in a/an _______ of the Japanese yen and therefore a for Japan?
A. appreciation; trade surplus
B. appreciation; trade deficit
C. depreciation; trade surplus
D. depreciation; trade deficit - The emergence of Japan as a world economic power has been based mostly on Japan’s ?
A. development of nuclear power
B. abundance of fossil fuels
C. strong traditional of military rule
D. business enterprise and organization - If the international terms of trade settle at a level that is between each country’s opportunity cost ?
A. There is no basis for gainful trade for either country
B. Both countries gain from trade
C. Only one country gains from trade
D. One country gain and the other country loses from trade - Which of the following is not part of the opportunity cost of going on holiday ?
A. The money you spent on a theater show
B. The money you could have made if you had stayed at home and worked
C. The money you spend on airline tickets
D. the money you spent on food - As the wage rate per hour increases, the opportunity cost of leisure ?
A. remains constant
B. increases since the cost of forgoing one hour of work increases
C. decreases since the customer now has more income to spend
D. may increase of decrease depending on the individual’s preferences.
