Foreigners who wish to travel to the United States 1 / 1 pts Question 5 If Country A has an absolute advantage over Country B in the production of every commodity: mutual gains from trade between Country A and Country B would be impossible. Country B would be able to gain from trade but not country A. the joint output of the two countries could not be increased through specialization and exchange. mutual gains from trade would still be possible. 1 / 1 pts Question 6 Suppose a quota on foreign-made automobiles is proposed in Congress. Which of the following groups is most likely to oppose the bill?
5/8/2019 M15: Quiz: 00A-Spring 2019-Economics Fundamentals CAFE 4/6 American Automobiles Manufacturers consumers American Steel Workers United Auto Workers 0 / 1 pts Question 7 Incorrect Incorrect Exhibit 21-6 Dollars per British pound Quantity Demanded Dollars per Pound Quantity Supplied 200 5 600 240 4 480 300 3 410 360 2 360 390 1 330 In Exhibit 21-6, the equilibrium exchange rate is: 5. 4. 3. 2.
5/8/2019 M15: Quiz: 00A-Spring 2019-Economics Fundamentals CAFE 5/6 1 / 1 pts Question 8 Exhibit 21-7 Foreign exchange market for U.S. dollars and British pounds Which of the following could cause the dollar-pound exchange rates to change as shown in Exhibit 21-7?