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ECON 333 Lesson Practice Quiz Answers (Penn State University)
ECON 333 Lesson Practice Quiz Answers (Penn State University)
[Show more]ECON 333 Lesson Practice Quiz Answers (Penn State University)
[Show more]ECON 333 Lesson 03 Practice Quiz 1 Answers (Penn State University)
While moving on the production possibilities frontier, if the opportunity cost of producing one good is 1/2, the opportunity cost of producing the other good (in the same range) is

The table above shows total daily production for Ma...
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Add to cartECON 333 Lesson 03 Practice Quiz 1 Answers (Penn State University)
While moving on the production possibilities frontier, if the opportunity cost of producing one good is 1/2, the opportunity cost of producing the other good (in the same range) is

The table above shows total daily production for Ma...
ECON 333 Lesson 03 Practice Quiz 2 Answers (Penn State University)
The opportunity cost of one more slice of pizza in terms of sodas is the

The United States can use all its resources to produce 250 DVDs or 500 shoes. China can use all of its resources to produce 30 DVDs or 300 shoes. The opportuni...
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Add to cartECON 333 Lesson 03 Practice Quiz 2 Answers (Penn State University)
The opportunity cost of one more slice of pizza in terms of sodas is the

The United States can use all its resources to produce 250 DVDs or 500 shoes. China can use all of its resources to produce 30 DVDs or 300 shoes. The opportuni...
ECON 333 Lesson 04 Practice Quiz 2 Answers (Penn State University)
In the HO model, the production possibility frontier is bowed out due to the assumption of

Assume that Mexico is relatively labor abundant, and that the U.S. is relatively capital abundant. If free trade were to open up between thes...
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Add to cartECON 333 Lesson 04 Practice Quiz 2 Answers (Penn State University)
In the HO model, the production possibility frontier is bowed out due to the assumption of

Assume that Mexico is relatively labor abundant, and that the U.S. is relatively capital abundant. If free trade were to open up between thes...
ECON 333 Lesson 04 Practice Quiz 3 Answers (Penn State University)
If the autarky price of S were lower in country A than in country B, then if trade were allowed

Assume that Australia is relatively labor abundant, and that Belgium is relatively capital abundant. If free trade were to open up betwe...
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Add to cartECON 333 Lesson 04 Practice Quiz 3 Answers (Penn State University)
If the autarky price of S were lower in country A than in country B, then if trade were allowed

Assume that Australia is relatively labor abundant, and that Belgium is relatively capital abundant. If free trade were to open up betwe...
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ECON 333 Lesson 05 Practice Quiz Answers (Penn State University)
Refer to the figure above. With free trade, the total quantity of imports would equal

Tariffs can be used to redistribute income from

A country gains from international trade if its post-trade ________ point lies outside its producti...
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Add to cartECON 333 Lesson 05 Practice Quiz Answers (Penn State University)
Refer to the figure above. With free trade, the total quantity of imports would equal

Tariffs can be used to redistribute income from

A country gains from international trade if its post-trade ________ point lies outside its producti...
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ECON 333 Lesson 06 Practice Quiz 1 Answers (Penn State University)
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ECON 333 Lesson 1 Quiz Answers (Penn State University)
Question 1

1 / 1 pts

An international trade gravity model estimates a country’s trade flows to other countries and predicts that any two countries will trade more with each other when:

 

their combined GNPs are smaller and the geographical...
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Add to cartECON 333 Lesson 1 Quiz Answers (Penn State University)
Question 1

1 / 1 pts

An international trade gravity model estimates a country’s trade flows to other countries and predicts that any two countries will trade more with each other when:

 

their combined GNPs are smaller and the geographical...
1x sold
ECON 333 Lesson 10 Quiz Answers (Penn State University)
Question 1

1 / 1 pts

For which of the following will the law of one price hold best? 

 

milk

 

 

butter

 

Correct!

 

gold

 

 

shirt

 

 

Question 2

1 / 1 pts

Which of the following statements is the most accurate? 

 

ab...
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Add to cartECON 333 Lesson 10 Quiz Answers (Penn State University)
Question 1

1 / 1 pts

For which of the following will the law of one price hold best? 

 

milk

 

 

butter

 

Correct!

 

gold

 

 

shirt

 

 

Question 2

1 / 1 pts

Which of the following statements is the most accurate? 

 

ab...
ECON 333 Lesson 2 Quiz Answers (Penn State University)

Question 1

1 / 1 pts

If the relative price of S in terms of T is 2, and S has a nominal price of $1, then the nominal price of T is

 

Need more information to answer.

 

 

50 cents.

 

You Answered

 

$2.

 

 

1/2 S.

 

 

Questi...
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Add to cartECON 333 Lesson 2 Quiz Answers (Penn State University)

Question 1

1 / 1 pts

If the relative price of S in terms of T is 2, and S has a nominal price of $1, then the nominal price of T is

 

Need more information to answer.

 

 

50 cents.

 

You Answered

 

$2.

 

 

1/2 S.

 

 

Questi...
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ECON 333 Lesson 6 Quiz 1 Answers (Penn State University)
Domestic governments tend to prefer to administer quotas using the “quota license” mechanism as opposed to the “unallocated global quota” mechanism. This is because

Quotas are government imposed limits on the ________ of goods traded ...
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Add to cartECON 333 Lesson 6 Quiz 1 Answers (Penn State University)
Domestic governments tend to prefer to administer quotas using the “quota license” mechanism as opposed to the “unallocated global quota” mechanism. This is because

Quotas are government imposed limits on the ________ of goods traded ...
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ECON 333 Lesson 7 Quiz Answers (Penn State University)
Question 1

1 / 1 pts

In WTO rules, the ________ allows for the imposition of restrictions on fairly traded imports that cause or threaten harm to domestic industry.

 

GATT

 

 

none of these are correct

 

 

free trade law

 

 

cou...
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Add to cartECON 333 Lesson 7 Quiz Answers (Penn State University)
Question 1

1 / 1 pts

In WTO rules, the ________ allows for the imposition of restrictions on fairly traded imports that cause or threaten harm to domestic industry.

 

GATT

 

 

none of these are correct

 

 

free trade law

 

 

cou...
3x sold
ECON 333 Lesson 8 Quiz Answers (Penn State University)
Question 1

1 / 1 pts

True or False: The Balance of Payments can be in surplus, deficit, or equal to zero.

 

True

 

 

False

 

 

Question 2

1 / 1 pts

Merchandise exports minus merchandise imports equal the

 

official settlements b...
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Add to cartECON 333 Lesson 8 Quiz Answers (Penn State University)
Question 1

1 / 1 pts

True or False: The Balance of Payments can be in surplus, deficit, or equal to zero.

 

True

 

 

False

 

 

Question 2

1 / 1 pts

Merchandise exports minus merchandise imports equal the

 

official settlements b...
1x sold
ECON 333 Lesson 9 Quiz Answers (Penn State University)
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Econ 333 Fall 2020 Sample Exam 1 Review Material
Exam Review Material

(1) Globalization is most accurately defined as:

A) A process of interaction and integration among people, firms, and governments of different nations, driven by international trade and investment and aided by information techno...
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Add to cartEcon 333 Fall 2020 Sample Exam 1 Review Material
Exam Review Material

(1) Globalization is most accurately defined as:

A) A process of interaction and integration among people, firms, and governments of different nations, driven by international trade and investment and aided by information techno...
ECON 333 Lesson 2 Review
Lesson 2: Exercise 
1.	In autarky, when a community maximizes its standard of living, its consumption point is: 
A)	Below the production possibility frontier. 
B)	On the production possibility frontier. 
C)	Above the production possibility frontier. 
D)	Can’t tell witho...
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Add to cartECON 333 Lesson 2 Review
Lesson 2: Exercise 
1.	In autarky, when a community maximizes its standard of living, its consumption point is: 
A)	Below the production possibility frontier. 
B)	On the production possibility frontier. 
C)	Above the production possibility frontier. 
D)	Can’t tell witho...
ECON 333 Exam 2 Practice Exam Answers 1
ECON 333 Practice Exam

MULTIPLE CHOICE

1.	If Canada imposes a tariff on coffee and if no coffee is grown in Canada, this tariff:
A.	has only protective effects. 
B.	has no revenue effects. 
C.	would be considered a pure revenue tariff.
D.	all of the abov...
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Add to cartECON 333 Exam 2 Practice Exam Answers 1
ECON 333 Practice Exam

MULTIPLE CHOICE

1.	If Canada imposes a tariff on coffee and if no coffee is grown in Canada, this tariff:
A.	has only protective effects. 
B.	has no revenue effects. 
C.	would be considered a pure revenue tariff.
D.	all of the abov...
ECON 333 VERSION A EXAM 2 Ch. 7,8,12,13 all correct answers
ECON 333.2 - Professor McCann	VERSION A			 Exam 2: Ch. 7,8,12,13
Directions: The questions below are Multiple Choice. Circle the answer you have selected on your test packet AND bubble in the corresponding letter on the scan s...
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Add to cartECON 333 VERSION A EXAM 2 Ch. 7,8,12,13 all correct answers
ECON 333.2 - Professor McCann	VERSION A			 Exam 2: Ch. 7,8,12,13
Directions: The questions below are Multiple Choice. Circle the answer you have selected on your test packet AND bubble in the corresponding letter on the scan s...
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