The use of money for exchange and trade reduces consumer sovereignty. b. raises the need for a coincidence of wants. c. increases the importance of barter. d. fosters more specialization in production. B

15. If the U.S. were to stop trading with other nations, economists would predict that in the long run the U.S. would end up with: A. more jobs. B. lower prices. C. a higher standard of living. D. a lower standard of living. 16. The price of American goods have slowed and decreased in part to which of the following: A. Outsourcing. B. Increases in educational scoring. C. law of one price D. globalization and increased trade. 17. If Canadians wanted significantly more French products than usual, the: A. demand curve for the euro would shift right. B. demand curve for the euro would shift left. C. supply curve for the euro would shift right. D. supply curve for the euro would shift left. 18. EU product price levels have stayed the same over the last year while inflation in the US has increased. EU exports will : A. increase and EU. imports decrease, causing the demand for Euros to rise and the supply of Euros to fall. B. decrease and EU. imports increase, causing the demand for Euros to…

Trade between two countries, increaces the price difference between the two. a.False b. True

A “green card” is a. A certificate of Legal Permanent Residence allowing the holder to work in the U.S. b. An indication of refugee status. c. A certificate of citizenship attained through naturalization. d. A visa allowing legal entry into the U.S.