chapter 5 tmqt

chapter 5 tmqt

University

37 Qs

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chapter 5 tmqt

chapter 5 tmqt

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37 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The concept “terms of trade” means

the amount of exports sold by a country.

the price conditions bargained for in international markets.

the price of a country's exports divided by the price of its imports.

the quantities of imports received in free trade.

None of the above.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A country cannot produce a mix of products with a higher value than where

the isovalue line intersects the production possibility frontier.

the isovalue line is tangent to the production possibility frontier

the isovalue line is above the production possibility frontier.

the isovalue line is below the production possibility frontier

the isovalue line is tangent with the indifference curve.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tastes of individuals are represented by

the production possibility frontier.

the isovalue line.

the indifference curve

the production function.

None of the above.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If PC / PF were to increase in the international marketplace, then

all countries would be better off.

the terms of trade of cloth exporters improve

the terms of trade of food exporters improve.

the terms of trade of all countries improve.

None of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If PC / PF were to increase,

the cloth exporter would increase the quantity of cloth exports.

the cloth exporter would increase the quantity of cloth produced

the food exporter would increase the quantity of food exports.

Both A and C.

None of the above.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If PC / PF were to increase,

world relative quantity of cloth supplied and demanded increases.

world relative quantity of cloth supplied and demanded decreases.

world relative quantity of cloth supplied increases..

world relative quantity of cloth demanded decreases .

None of the above.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the production possibility frontier shifts out relatively more in one direction, we have

biased growth

unbiased growth

immiserizing growth.

balanced growth

imbalanced growth

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