61.Comparative advantage in production of the good measured on the horizontal axis is identified with a straight-line production possibilities frontier that has a slope that is A)larger in magnitude (or absolute value). B)smaller in magnitude (or absolute value). C)positive. D)larger in magnitude (or absolute value.) and positive.
61.
A)larger in magnitude (or absolute value).
B)smaller in magnitude (or absolute value).
C)positive.
D)larger in magnitude (or absolute value.) and positive.
62.A quota that limits U.S. imports of cane sugar
A)harmsU.S. sugar consumers.
B)helpsU.S. cane sugar producers.
C)helpsU.S. corn syrup (sweetener) producers.
D)all of the options are correct.
63.A quota that limits U.S. imports of cane sugar
A)harmsU.S. consumers more than it helps U.S. producers.
B)helpsU.S. producers more than it hurts U.S. consumers.
C)harms foreign producers more than it helps U.S. producers.
D)helps both U.S. consumers and U.S. producers at the expense of foreign producers.
64.Of approximately 140 million jobs in the U.S., each year approximately
A)31 million are eliminated and 30 million are created.
B)30 million are eliminated and 31 million are created.
C)all jobs eliminated are attributable to global outsourcing.
D)all jobs eliminated pay lower wages than the new jobs created.
65.Jobs in the U.S. textile industry can be saved by imposing tariffs upon textiles imported into the U.S., but the cost to U.S. consumers is estimated to be approximately
A)$23,000 annually per job saved.
B)$49,000 annually per job saved.
C)$94,000 annually, per job saved.
D)$148,000 annually, per job saved.
66.If a textile worker earns $38,000 per year working in the textile mill on a job that was saved by a protective tariff costing consumers $148,000 per year (for that job alone), the textile worker could be paid $48,000 to stay at home all day watching TV when the protective tariff is eliminated, and consumers would still be better off by approximately
A)$18,000 per year.
B)$48,000 per year.
C)$100,000 per year.
D)$168,000 per year.
67.Imports of Japanese passenger vehicles into the U.S.tend to
A)harmU.S. consumers and help Japanese automakers.
B)helpU.S. consumers and harm U.S. automakers.
C)helpU.S. consumers and harm Japanese automakers.
D)harm Japanese consumers and help U.S. automakers.
68.Exports of U.S. rice to Japantend to
A)harmU.S. consumers and help Japanese rice producers.
B)helpU.S. consumers and harm U.S. rice producers.
C)helpU.S. consumers and harm Japanese rice producers.
D)help Japanese consumers and harm Japanese rice producers.
69.Tariffs imposed upon U.S. rice imported into Japan tend to
A)harm Japanese consumers and help Japanese rice producers.
B)helpU.S. consumers and harm Japanese rice producers.
C)harm U.S. consumers and harm Japanese rice producers.
D)help Japanese consumers and harm Japanese rice producers.
70.Tariffs imposed upon Japanese passenger vehicle imports into the U.S. tend to
A)harmU.S. consumers and help Japanese automakers.
B)helpU.S. consumers and harm U.S. automakers.
C)harmU.S. consumers and help U.S. automakers.
D)harm Japanese consumers and help U.S. automakers.
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