Can you please help me. Question 1. choice a. they may help the importing country get better prices for it's goods, and they protect certain industries from foreign competition. Question 7. Large gains from trade are most likely when countries are very different. Question 8. Is it possible for a country to have an absolute disadvantage and a comparative advantage in the production of a good? a. Yes, this situation can occur. B. No, theory prevents it, but some economists claim it could occur. C. Yes, in theory, although not in reality. or D. No, these are incompatible on theoretical grounds. Are the following answers correct; 1.b. 2.b. 3.c. 4.e. 5.b. 6.b. 7.True 8.a. Yes. this situation can occur.
The two primary reasons to adopt measures to restrict trade are that a. they may help the importing country get better prices for it's industries from foreign competition. Question Completion Status: Ob. they may help the importing country improve its educational system, and they keep high-technology products from being stolen by foreign competitors. c. they may help advance the political goals of the nation, and they encourage productivity in domestic industries. d. . they help keep real wages high in the importing country, and they also permit small businesses to compete in "international markets. QUESTION 12 Opening trade between a nation that has "cheap labor" and one that has "expensive labor" will a. raise the standard of living in both countries. b. lead to an inappropriate allocation of resources. c. lower the standard of living in both countries. d. make some workers less efficient. QUESTION 13 Suppose that with 1 unit of labor, Canada can produce 40 TVs or 20 computers. With I unit of labor, Taiwan can produce 30 TVs or 10 computers. Which of the following is correct? a. Canada has a comparative advantage in the production of computers. b. Canada has an absolute advantage in the production of neither good. c. Taiwan has an absolute advantage in the production of TVs. d. Taiwan has a comparative advantage in the production of computers. e. Taiwan has an absolute advantage in the production of computers. QUESTION 14 If two countries each are currently producing two goods, and each begins to specialize in the good in which it has a comparative advantage, what will happen to total (world) output? a. It will decrease. b. It will be unchanged in both countries. c. Uncertain; economic theory has no answer to this question. d. It will rise in one country and fall in the other, but the total is unchanged. O e. It will increase. QUESTION 15 When other nations Orient "dump" products on the U.S. market, they a. sell at prices that do not cover costs of production. b. All of the above are true. (c. expect the United States to help pay any industrialists' losses. d. sell at prices lower than prices charged to their own domestic customers. Question 1 If a nation has "Cheap labor" o a. it cannot have a comparative advantage in everything. 0 b. All of the above are true. O c. it can still benefit from tra Od. other nations can still compete with it. Question 2 Large gains from trade are most likely when countries are very did OTrue O False Question 3 Is it possible for a country to have an absolute disadvantage and in the production of a good
