Click on the button to go to the Question Click on the button to go to the problem Question 1 Question 2 Question 3 Question 4 Question 5 Question 7 Question 8 Question 6 Question 9 Question 10 Checkpoint 18.1 Checkpoint 18.2Checkpoint 18.3
CHECKPOINT 18.1 A.a lower price than; lower B.a higher price than; higher C.a lower price than; higher D.a higher price than; lower E.the same price as; higher Question 1 When Italy buys a Boeing jet, it pays ____ if it produced the jet itself and the price Boeing receives is ____ than what an additional U.S. buyer is willing to pay.
CHECKPOINT 18.1 A.equal to; produce more of; import B.less than; export; produce C.greater than; import; consume D.less than; increase production of the good; import E.greater than; import; produce Question 2 Suppose that the price of a good in a country that does not trade internationally is _____ the world price. If this country starts to trade internationally, it will _____ the good and _____ less of the good.
CHECKPOINT 18.1 A.gain; gain; gains B.lose; gain; gains C.gain; lose; gains D.lose; lose; loses E.gain; lose; loses Question 3 When a country exports a good, the countrys producers of the good ____, consumers of the good ____, and the country ____ from the trade.
CHECKPOINT 18.1 A.producers; consumers; equal B.producers; consumers; are less than C.consumers; producers; exceed D.consumers; producers; exceed E.producers; consumers; exceed Question 4 When a country imports a good, the domestic ______ of the good gain, domestic ________ of the good lose, and the gains from importing the good _______ the losses.
CHECKPOINT 18.2 A.domestic quantity purchased B.domestic quantity produced C.quantity imported D.quantity exported E.world price Question 5 When a tariff is imposed on an imported good, the ____ of that good increases.
CHECKPOINT 18.2 A.win; lose B.lose; lose C.win; win D.lose; win E.lose; neither win nor lose Question 6 When a tariff is imposed on a good, domestic consumers of the good ____ and domestic producers of the good ____.
CHECKPOINT 18.2 A.the domestic government B.domestic producers C.domestic consumers D.domestic importers of the good E.the foreign government Question 7 Which of the following parties benefits from an import quota but not from a tariff?
CHECKPOINT 18.3 A.needs tariffs so that it can compete with countries that have B.should not trade with countries that have C.will not gain from trade with countries with D.does not need tariffs to be able to compete with E.avoids trading with countries that have Question 8 The United States _________ cheap labor.
CHECKPOINT 18.3 A.rent seeking B.to allow competition with cheap foreign labor C.to save jobs D.to prevent dumping E.for national security Question 9 What is a major reason international trade is restricted in developed countries?
CHECKPOINT 18.3 A.the government gains revenue from the tariff B.low-paid domestic workers are protected from high-paid foreign workers. C.the tariff increases the nations total income D.the tariff improves its national security E.the tariff helps to diversify the domestic economy Question 10 The major reason most less-developed nations impose tariffs is because _______.