WorksheetsThe Great Awakening
Total questions: 17
Worksheet time: 11mins
The reason Hatfield and McCoy have not traded with Springfield and or Abbydale is because
they were abusing civil rights.
their economies were too poor.
Springfield and Abbydale were at war.
the costs of trade outweigh the benefits.
The Trilateral Trade Consortium
fights to limit trade.
promotes trade.
has no position on the benefits of trade.
is a communist organization.
According to the principle of comparative advantage, international trade should depend on ?
price of wages
tarrifs
who has the resourse advantage to produce more
lower opportunity cost compared to its trading partners
Why are most countries better off specializing in the production of particular goods, and then trading with other nations to obtain whatever else they need?
Transportation costs are lower than they were a century ago.
Resources are not evenly distributed among countries.
Greater investment increases productivity.
People have limited resources to satisfy unlimited wants.
Comparative advantages show:
outcomes without trading
who can make more items
competition within countries
who should produce what item at the lowest cost
Goods and services produced at home and sold in other countries
Imports
Exports
Specialization
Globalization
We want out trading partners to produce goods for us even when we are more effecient if
we could be doing something even more productive with the resources we save.
their economy needs the help.
their workers will work for less pay.
they have the same political agenda as we do.
Trade improves relations between trading partners beacuse
trade agreements make it illegal to declare war.
with trade, countries know all each others secrets.
the benefits of trade make trade partners less likely to fight.
trading countries are more civilized than non-traders.
The root of the problems between the real Hatfields and McCoys was
conflict that arose out of the Civil War
a romance between kids of both families
a stolen pig
deep racism
Trade with people that one group might find undesirable is good because it should eventually lead to
higher profits
more technology
education and improved social standards
war
Rather than losing jobs, trade is more likely to
maximize efficiency and lead to greater production
eliminate jobs that no one wanted to begin with
drive communities apart and lead to conflict between nations
lower production and the standard of living
The BEST trade for SEM seniors is
a peanut butter and jelly sandwich for a ham and cheese sandwich
Cody Bellinger for Mike Trout
All of my attention and participation for an A in economics
A new $1 bill for an old $2 bill
