Podcast
Questions and Answers
What may enable countries to be more efficient when they specialize?
What may enable countries to be more efficient when they specialize?
- Small-scale production
- International borrowing
- Large-scale production (correct)
- Import tariffs
What is a consequence of international trade for the distribution of income within a country?
What is a consequence of international trade for the distribution of income within a country?
- It reduces income inequality
- It may affect the distribution of income (correct)
- It increases the income of all citizens
- It has no impact on income distribution
What determines the pattern of trade between countries?
What determines the pattern of trade between countries?
- Differences in climate and resources
- Differences in labor productivity
- Differences in government policies
- All of the above (correct)
What is a consequence of governments restricting trade?
What is a consequence of governments restricting trade?
What is a benefit of exchanging risky assets such as stocks and bonds between countries?
What is a benefit of exchanging risky assets such as stocks and bonds between countries?
What measures the balance of funds that central banks use for official international transactions?
What measures the balance of funds that central banks use for official international transactions?
What is the primary focus of international economics?
What is the primary focus of international economics?
What has been the trend in the importance of international trade over time?
What has been the trend in the importance of international trade over time?
Why do countries engage in international trade?
Why do countries engage in international trade?
What happened to imports and exports in 2009 and 2020?
What happened to imports and exports in 2009 and 2020?
How does the United States compare to other countries in terms of international trade?
How does the United States compare to other countries in terms of international trade?
What is the key insight of international economics?
What is the key insight of international economics?
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