How might international trade impact the labor demand curve and wages.   Question 10 options: (choose one only)   Workers in industries that export products will see the demand curve shift right and wages increase.   Workers in industries impacted by imported products will see the demand

From an economic perspective, the costs of trade barriers Multiple Choice are outweighed by the reduction in foreign competition provided by the barriers. are lower than benefits for domestic producers and workers. are about equal to the benefits. far exceed their benefits for society.

QUESTION 9 Even without 100% specialization, if the trading price is greater than the country’s opportunity cost: There are benefits to trading. Is constant. Is fixed. No trades will take place. All of the above.

(h) Suppose you conduct an opinion poll among individuals at Home, in which you ask them whether they have benefitted from international trade. What do you predict the response would be? Is this consistent with the empirical evidence we observe about people’s support for free trade in reality?

Suppose that a tariff is imposed on imported cheese. This will have the effect of __________ the quantity consumed of cheese, __________ consumers' surplus, and __________ the government's tariff revenues.     Question 13 options:   1)  increasing; decreasing; decreasing   2)  decreasing; increasing; increasing   3)  decreasing; decreasing; increasing   4)  decreasing; increasing; decreasing   5)  increasing; increasing; increasing

State whether each group would benefit, lose, or have no effect as a result of the tariff imposed in the previous question. Explain your answers. Domestic sellers Consumers Foreign sellers Government Workers in the importing industry.

The effective rate of protection measures * the quota equivalent value of a tariff. the efficiency with which the tariff is collected at the customhouse. the difference between domestic and foreign prices of the import. the protection given by the tariff to domestic value added. the "true" ad valorem value of a tariff. The deadweight loss of a tariff * is not a social loss because it is paid for by rich corporations. is not a social loss because it aids domestic consumers. is a social loss because it reduces the revenue of the government. is not a social loss because it merely redistributes revenue from one sector to another. is a social loss because it promotes inefficient use of national resources.

QUESTION 34 If the U.S. started to import textiles from Mexico according to a free trade agreement, but the U.S. previously acquired textiles from Costa Rica for less money, what kind of trade situation would the U.S. be in? A. Trade generation B. Trade creation C. Trade diversion D. Trade notification