A. $100,000 units
B. $400,000 units
C. $600,000 units
D. $800,000 units
Related Mcqs:
- With free trade suppose that the rest of the world can supply computers to Norway at a price of $1,500 Norway’s imports will now equal. Compared to What occurred in the absence of trade, Norway’s consumers surplus will _____ and its producer surplus will ____. Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?
A. 1,600 computers, decrease, increase
B. 1,600 computers, increase, decrease
C. 1,200 computers, decrease, increase
D. 1,200 computers, increase, decrease - With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?
A. 20 calculators increase
B. 25 calculators decrease
C. 25 calculators increase
D. 30 calculators increase - With free trade the total quantity of imports would equal ?
A. 10,000 units
B. 40,000 units
C. 42,000 units
D. 50,000 units - Under free trade suppose that Japan can supply radios t mexico at the price of $45 Therefore, Mexico’s imports equal ?
A. 5 radios
B. 10 radios
C. 15 radios
D. zero radios - To reduce imports, suppose that the government of Norway’s imposes a quota equal to 800 computers, Compared to what occurred under free trade, Norway’s consumers surplus will ________ and its producer surplus will _______ Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?
A. increase, increase
B. increase, decrease
C. decrease, increase
D. decrease, decrease - When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?
A. trade diversion
B. trade channeling
C. trade creation and trade diversion
D. trade creation - What is called the difference in the value of a nation’s imports over exports or exports over imports ?
A. Trade deficit
B. Trade simples
C. Both a & b
D. Not a nor b - When imports from a higher-cost supplier within a customs union replace imports from a lower-cost supplier outside the custom union, there exists ?
A. trade creation
B. trade diversion
C. dynamic welfare effects
D. comprehensive welfare effects - A depreciation of the dollar will have its most pronounced impact on imports if the demand for imports is ?
A. constant
B. inelastic
C. elastic
D. Unitary elastic - Under free trade, Canada would not realize any gains from trade with Sweden if Canada ?
A. Trades at Canada’s marginal rate of transformation
B. Trade at Sweden’s marginal rate of transformation
C. Specializes completely in the production of its export good
D. Specializes partially in the production of its exports goods
