With international trade, what would be the maximum number of DVDs that Japan would be willing to export to South Korea in exchange for each ton of steel ?

Related Mcqs:

1. 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

2. Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ?

   A. Three vases will be sold, and consumer surplus is Rs80
   B. One vase will be sold, and consumer surplus is Rs5.
   C. One vase will be sold, and consumer surplus is Rs30.
   D. Three vases will be sold, and consumer surplus is Rs0.
   E. Two vases will be sold, and consumer surplus is Rs5.

3. If I purchase a stereo from South Korea, I obtain the stereo and South Korea obtains the dollars But if I purchase a stereo produced in the Pakistan I obtain the stereo and the rupees remain in Pakistan, This line of reasoning is ?

   A. valid for stereos, but nor for most products imported by Pakistan
   B. valid for most products imported by Pakistan but not for stereos
   C. deceiving since Koreans eventually spend the dollars on Pakistani goods
   D. deceiving since the dollars spent on a stereo built in the Pakistan eventually wind up overseas

4. To maintain that South koreans are dumping their DVDs in the United States is to maintain that ?

   A. Koreans are selling DVDs in the U.S below their production cost
   B. Koreans are selling DVDs is the U.s above their productions cost
   C. The cost of manufacturing DVDs in Korea is lower in Korea than in the U.S since wages are lower in Korea
   D. The cost of manufacturing DVDs in Korea is higher in Korea than in the U.S since wages are higher in Korea

5. Micheal Roemer’s three-sector model shows that growth in the booming export sector I- reduces the price of foreign exchange II- retards other sectors’ growth by reducing incentives to export other commodities III- reduces incentives to replace domestic goods for imports IV- raises factor and input prices for non-booming sectors ?

   A. I and III only
   B. II and III only
   C. I, II and III only
   D. I, II , III only IV

6. In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?

   A. Px/Pm
   B. Pm/Px
   C. (Pm/Px)Qm
   D. (Px/Pm)Qx

7. 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

8. Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?

   A. purchase; decrease
   B. purchase; increase
   C. sell; increase
   D. sell; decrease

9. Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero marginal cost of study production. If ABC publishing engages in tying the two products its best strategy is to charge a combined price of ?

   A. Rs 60
   B. Rs 90
   C. Rs 85
   D. Rs 75

10. Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero-marginal cost of study production. If ABC publishing charges separate price for both products its best strategy is to charge price that when combined, total ?

    A. Rs 85
    B. Rs 75
    C. Rs 80
    D. Rs 60