Question 22 (1 point) If a Russia places tariffs on imported goods, then its currency appreciates which reduces exports leaving the trade balance unchanged. then its currency appreciates which increases exports improving the trade balance. then its currency depreciates which reduces exports leaving the trade balance unchanged. Othen its currency depreciates which increases exports improving the trade balance. Question 23 (1 point) Nick and Tabitha are two woodworkers who both make tables and chairs. In one month, Nick can make 9 tables or 27 chairs, whereas Tabitha can make 16 tables or 48 chairs. Given this, we know that the opportunity cost of 1 chair is 1/3 table for Nick and 1/3 table for Tabitha. 1/3 table for Nick and 3 tables for Tabitha. 3 tables for Nick and 1/3 table for Tabitha. O 113 table for Nick and 3 tables for Tabitha. Question 24 (1 point) Suppose Canada has an absolute advantage over other countries in producing grapes, but other countries have a comparative advantage over Canada in producing grapes. If trade in grapes is allowed, Canada will import grapes. will export grapes will either import grapes or export grapes, but it is not clear from the given information, would have nothing to gain either from exporting or importing grapes. Question 25 (1 point) Using U.S. data for any year, which of the following measures income from largest to smallest? disposable personal income, gross national product, national income, net national product, personal income personal income, net national product, national income, gross national product, disposable personal income Ogross national product, net national product, national income, personal income, disposable personal income Odisposable personal income, personal income, national income, net national product, gross national product Question 26 (1 point) Human capital would be best represented by a student loan knowledge learned from reading books training videos for new corporate employees O All of the above are correct. Question 27 (1 point) Molly purchased a John Deere tractor five years ago. This year, she purchases some new parts, gasoline, oil, and spends 2 hours repairing the tractor. Which of the following is included in this year's GDP? O the amount she paid to buy the new parts O the amount she paid to buy new parts and gasoline the amount she paid to buy new parts, gasoline, and oil. the amount she paid to buy new parts, gasoline, oil, and the market value of the 2 hours spent to repair the log- splitter Question 28 (1 point) Before the Great Recession, M2 included O Credit cards O Money market mutual funds Corporate bonds Large time deposits Question 29 (1 point) A country has a net capital outflow of $600 billion and domestic investment of $130 billion. What is the quantity of loanable funds demanded? Os130 billion O $600 billion $470 billion 8730 billion Question 30 (1 point) Domestic saving must cqual domestic investment in both closed and open economies must equal domestic investment in closed, but not open economies. must equal domestic investment in open, but not closed economies. O must sual domestic investment in neither closed nor open economies
