12 through 1712. Developing countries might be unable to respond smoothly to changing international price signalsbecause of:a. a lack of government regulation.b. an abundance of skilled labor.c. inelastic supply curves.d. limited foreign exchange.13. Which of the following is an argument in favor of trade liberalization?a. Increased investment.b. Infant industry.c. Fluctuating export earnings.d. Increased government revenue.14. The real price trendline for non fuel primary commodities from 1960-2005 has been:a. Unchangedb. Steadily increasingc. Steadily decreasingd. First decreased and then increased.15. Which of the following is a major argument of trade optimists?a. Industrial policy can increase productivity of developing country manufacturing efficiency.b. New synthetic substitutes are constantly being discovered and improved.c. Developing country efficiency would improve with trade liberalization.d. All of the above.16. If the equilibrium exchange rate is 15 pesos per dollar and the central bank fixes the exchange rateat 17 pesos per dollar then we can conclude that the peso is:a. appreciated.b. depreciated.c. overvalued.d. undervalued.17. The direct benefits of out-migration to a developing nation include:a. Loss of skilled workers.b. Increased remittances.c. Job growth.d. Larger capital formation.

Developing nations, additionally frequently alluded to as lower-income nations or the Global South,…

12. Developing countries might be unable to respond smoothly to changing international price signals because of: a. a lack of government regulation. b. an abundance of skilled labor. c. inelastic supply curves. d. limited foreign exchange.

12. Developing countries might be unable to respond smoothly to changing international price signals because of: a. a lack of government regulation. b. an abundance of skilled labor. c. inelastic supply curves. d. limited foreign exchange.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter19: Economic Development

Section: Chapter Questions

Problem 3.4P

See similar textbooks

Related questions

Q: what kind of supply side policies would benefit Australias productivity

A: This can be defined as a concept that plays one of the most important roles in the products of…

Q: Babe’s Bats (BB) sells baseball bats for children around the world. The firm faces a demand curve of…

A: Demand equation: where Q is measured in thousands of bats and P is dollars per bat. Marginal cost:

Q: If your grandmother gives you a $20 bill and you deposit that into your and M2 Money. checking…

A: M1 money supply includes all the monetary instruments that are readily available to use as a medium…

Q: Point on Demand Curve: Price (P): A $40 0 BC $35 $30 D E F H $25 $20 $15 $10 $5 10 15 20 25 30 35 40…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: When both autonomous government spending and autonomous taxes are each reduced by $100, in an…

A: In an economy, the aggregate expenditure will be .Equilibrium condition: Y=AEThe government spending…

Q: A firm in a perfectly competitive market produces 700 units. The average cost of producing each unit…

A: Firm operates in perfectly competitive market.The firm is producing 700 units. The average cost of…

Q: A downward shift in the consumption function can be caused a) a decrease in wealth. b) expectations…

A: The association between two important economic variables, disposable income, and consumer…

Q: How is the majority of U.S. programming funded? What is the role that you, the consumer of media…

A: The issue is best described as follows:The funding sources for American programming and the part…

Q: sing a supply-demand diagram, show a labor market with a binding minimum wage. Now, use the diagram…

A: The markets are the place of interaction and meeting for the buyers and sellers. In the markets, the…

Q: The modified B/C ratio is The project is economically [Click to select)

A: The Benefit-Cost Ratio (B/C) is used in cost-benefit analysis to summarize the overall relationship…

Q: Pus Pc C b d # a Dc Sus Sc Dus 0 Refer to Figure 4-1. What is the most likely reason that the market…

A: Monopoly is the market structure that is defined as the sole power of fixing the market price for a…

Q: The supply of seats for an economics class at 10 a.m. is the same as the supply of seats for the…

A: The issue is best described as follows:There is a discrepancy in demand between the two class hours…

Q: The following data gives real GDP (Y), total factor productivity (A), and Capital (K), for two…

A: The production function represents the relationship between output and inputs. The GDP depends on…

Q: Consider the the file HW3 - Loadable Funds Graph. Currently lenders and borrowers expect the…

A: A loanable fund refers to the pool of funds available for lending by financial institutions, such as…

Q: Instructions: Round your answers for price to 2 decimal places. Enter your answers for quantity as a…

A: Equilibriun refers to the point in the market when quantity demanded equals the quantity supplied by…

Q: For each of the following events, indicate if they are likely to cause an increase, a decrease or no…

A: If the U.S. restricts imports of Canadian products, the demand for the Canadian dollar will…

Q: 1. Individual Problems 3-7 A business incurs the following costs: • Labor: $195/unit • Materials:…

A: Total cost is the sum of fixed cost and variable cost.=> TC = FC + VC Fixed cost is the cost that…

Q: How much must you deposit each year into your retirement account starting now and continuing through…

A: Cash Flow AnalysisTo analyze a project, cash flow analysis techniques are used. Cash flow formulas…

Q: Table 17-1 Imagine a small town in which only two residents, Celia and Venya, own wells that produce…

A: Marginal social cost (MSC) refers to total cost to society as a whole for the production of an…

Q: A perfectly price-discriminating monopolist: shifts the demand curve for its product to the right by…

A: Perfect competition refers to a market structure where there are many buyers and sellers,…

Q: Treasury bills are traded in a Select one: O a. money b. stock O c. capital d government market.

A: A Treasury bill, sometimes known as a "T-bill," is a type of short-term debt instrument that the US…

Q: The price of a motor car P is related to its age t by the differential equation. dP 2P 10+t dt a)…

A: The given differential equation shows the rate of change in price with its age. The price of car…

Q: Ski Boards, Inc., wants to enter the market quickly with a new linish on its ski boards. It has…

A: There three alternatives -a ) Refurbish -Fixed Cost = 250 Variable Cost = $1.1b ) Make…

Q: if a consumer is willing to pay $20 for a pizza, but the price of the pizza is $10, then the…

A: Consumer surplus refers to the difference between individual / consumer willing to pay and what…

Q: 6. What factors determine the real rate of interest? If the money supply is increased, what happens…

A: Real Rate of Interest:The real rate of interest is the nominal interest rate adjusted for inflation.…

Q: If national income increases by $75 million and consumption increases by $15 million, the marginal…

A: The marginal propensity to consume is the proportion of additional income that is spent on…

Q: Figure 1 24 22 18 16 Price 120 160 Social cost (private cost and external cost) Supply (private…

A: As per the guidelines we are allowed to answer the first three subparts only. Please post remaining…

Q: Help me understand this experiemental economics question: To study if there is gender…

A: A full factorial design can be used to create an experiment to explore gender discrimination in the…

Q: 22. Taro's utility function is U(C, R)= 32√R+C, where R is the amount of leisure. He has 16 hours a…

A: The utility function is given as Total amount of working hours is 16 hours. Taro receives $10 an…

Q: 3. The components of marginal revenue Asim's HookNLadder is the only company selling fire engines in…

A: Demand curve is a downward sloping curve showing inverse relationship between price and quantity…

Q: PRICE (Dollars per unit) 20 18 16 14 12 10 co 10 4 2 0 4 P 0 2 + 4 +* * W R 6 + S ² S N 10 12 14 8…

A: Price elasticity of demand shows the responsiveness of a percentage change in price to a percentage…

Q: In San Diego, 135 people are willing to work an hour as cashiers if the wage is $20 per hour. For…

A: The labor market serves as a crucial pillar of economic well-being, impacting both individuals and…

Q: 3. Productivity and growth policies Consider a hypothetical small island nation in which the only…

A: Productivity refers to the effective utilisation of resources like labour and capital to maximise…

Q: Refer to the information provided in Figure 3.10 below to answer the following question(s). $4 S₁…

A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve. The…

Q: An effective price floor causes the quantity exchanged to _______ and the price of the product to…

A: A price floor is the minimum allowed price on the market. The price of a good cannot go below this…

Q: 5. Consider the following demand function for airline tickets (quantities are in thousands): Q =…

A: Cross price elasticity is calculated as the percentage change in quantity of one good divided by the…

Q: Suppose that we observe the following change in the international market for USD: р USD A B O The…

A: Appreciation refers to an increase in the value or worth of an asset over time. It can be applied to…

Q: The table below shows the national accounts for a hypothetical economy, Meereen. Meereen's National…

A: A country expressing the monetary value gained by producing a good or service in a year is known as…

Q: Several growers are happy with this advancement in technology because now they can sell more crops,…

A: Elasticity of demand, often referred to as price elasticity of demand, is a measure in economics…

Q: Refer to the diagram below and indicate whether the following statements is true or false (no…

A: Production function shows the relation between physical input and output. Production function…

Q: Exhibit 30-2 Price and Cost 0 0₁ 0₂ Refer to Exhibit 30-2. If the exhibit represents a positive…

A: Positive externality refers to the benefits received due to the operations of the third party.…

Q: You were gifted a box of 50 thermos bottles that you do not need and you plan to sell them on Ebay.…

A: You received 50 thermos bottles as a present, but you don't need them, therefore you want to sell…

Q: China announces that it will devalue the yuan in one week. How will the equilibrium in the foreign…

A: The issue is the possible impact of China's recently announced yuan depreciation on the stability…

Q: Select the graph that best shows the change in the market following a reduction in the tax placed on…

A: Equilibrium in the market is reached at the intersection of demand and supply curves

Q: Assume that an economy produces only lemonade and cookies. The output and prices in 2019 and 2020…

A: GDP refers to the total of goods and services produced in an economy. Thus GDP deflator refers to…

Q: nt 7.1 Due on October 11, 2023 If a price ceiling of $2 is imposed in this competitive market,…

A: Price ceiling is the maximum price that can be charged. It is binding when it is set below the…

Q: capital are given as: MPL = (0.75)(0.25)Kº.25 L-0.25 MPK = (0.25)(0.25)K-0.75L0.75 a. Construct the…

A: The isoquant curve represents the different combination of inputthat is required to produce a given…

Q: Which of the following is the best example of a negative externality? Multiple Choice O A firm keeps…

A: A negative externality is a cost imposed on a third party by the production or consumption of a good…

Q: Suppose the current level of output is 10,000 and the elasticity of output with respect to labor is…

A: The issue is best described as follows:We must ascertain how a 10% increase in labor would affect…

Q: Refer to the diagram to the right which shows the production possibilities frontier for Mendonca, an…

A: Production possibility frontier or PPF shows the different combinations of two goods that can be…

Question

12 through 17
12. Developing countries might be unable to respond smoothly to changing international price signals
because of:
a. a lack of government regulation.
b. an abundance of skilled labor.
c. inelastic supply curves.
d. limited foreign exchange.
13. Which of the following is an argument in favor of trade liberalization?
a. Increased investment.
b. Infant industry.
c. Fluctuating export earnings.
d. Increased government revenue.
14. The real price trendline for non fuel primary commodities from 1960-2005 has been:
a. Unchanged
b. Steadily increasing
c. Steadily decreasing
d. First decreased and then increased.
15. Which of the following is a major argument of trade optimists?
a. Industrial policy can increase productivity of developing country manufacturing efficiency.
b. New synthetic substitutes are constantly being discovered and improved.
c. Developing country efficiency would improve with trade liberalization.
d. All of the above.
16. If the equilibrium exchange rate is 15 pesos per dollar and the central bank fixes the exchange rate
at 17 pesos per dollar then we can conclude that the peso is:
a. appreciated.
b. depreciated.
c. overvalued.
d. undervalued.
17. The direct benefits of out-migration to a developing nation include:
a. Loss of skilled workers.
b. Increased remittances.
c. Job growth.
d. Larger capital formation.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Define developing countries

VIEW

Step 2: Explain the correct option

VIEW

Step 3: Explain why other options are incorrect

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

1.a) Which of the following hampers the growth of global economy? a) spread of capitalism around the world. b) encouraging protectionism c) terms and conditions of NAFTA b) Companies that re willing or able to invest millions of dollars in operations abroad should ideally operate through _____? a) franchising agreements b) multinational corporations c) licensing agreements d) shell corporations
Answer the following questions on globalization and protectionism: Why does the government create trade barriers if they can potentially hurt a worker in an economy (due to lower wages)? a. What can be done to avoid trade barriers? b. As a consumer, what are your experiences with trade barriers? c. What alternatives do you recommend to replace trade barriers? Why do you think labor standards and working conditions are lower in developing nations of the world rather than in other countries? Should a country impose higher safety standards on imported goods that exist in the foreign country where the goods were produced? Provide an explanation
Select one country and review its progress in economic globalization. 1. What has economic globalization meant to the selected country? 2. Does the selected country benefit or hurt by economic globalization? 3. Is trade within this country a significant component of development? 4. How about the development of capital and finance sectors in this country? 5. Who are the important external players? IMF? WTO?
(A) What is the importance of market integration in globalization? (B) Is global interstate system important? (C) What is the purpose of global interstate system? (D) What are the benefits of market integration?
11. Name a country or region in the world that has benefited from globalization: _________________Name a country or region in the world that has been suffering more than benefiting fromglobalization: ________________________ 9, Name three factors that, have helped promoting globalization. 10, three main areas of globalization. Which are these areas? Select up to threefrom the options below.a. culture b. military c. technologyd. economy e. environment f. transportationg. tariffs h. infrastructure i. politics
1. Which of the following is true and which is false:a) The trade-to-GDP ratio for a nation that had €600 million in exports, €400 million in imports,and GDP of €2,000 million is equal to 0.5.b) The trade-to-GDP ratio for a nation that had €600 million in exports, €400 million in imports,and GDP of €2,000 million is equal to 0.05.c) A trade-to-GDP ratio in percentage terms equal to 120% means that the country exchanges1.2 times worth of goods and services of what it generates domestically over a certain period.d) The trade-to-GDP ratio is a measure of how income distribution between nations.e) The trade-to-GDP ratio is a measure of how intensively a country participates in internationaltrade.f) The higher the trade-to-GDP ratio, the stronger is the purchasing power of the country in theworld markets
Select India and review its progress in economic globalization. 4. How about the development of capital and finance sectors in this country? 5. Who are the important external players? IMF? WTO?
Which of the following statements about helping poor countries are true? a) Opening our markets to their trade is by far a more effective way to help them that giving them foreign aid? b) Opening our markets to their trade not only doesn't cost us, it provides a net benefit to our economy as well c) We should always give as much foreign aid as we can directly to their governments d) If the "recipient" country does not have a responsible government or much in the way of civil society, foreign aid should be limited to things such as fighting disease, aid that is provided directly to the people, such as microfinance or infrastructure project provided directly avoiding passing funds through the "recipient" country governments, and aid conditional on reforms to improvements governance. e) We should protect our domestic industries against the lower wages of the poorer countries, so we may giv them foreign aid but should never open our markets to them.
Why does the government create trade barriers if they can potentially hurt a worker in an economy (due to lower wages)? a. What can be done to avoid trade barriers? b. As a consumer, what are your experiences with trade barriers? c. What alternatives do you recommend to replace trade barriers? Why do you think labor standards and working conditions are lower in developing nations of the world rather than in other countries? Should a country impose higher safety standards on imported goods that exist in the foreign country where the goods were produced? Explain.
1. How do corporations contribute to global market integration? Cite some real-life scenario. (Type your answers in 3 sentences only) 2.Enumerate the three (3) structural post-war period. 3.To what extent have global corporations become less regulated? (Type your answers in 3 sentences only) 4. Enumerate the three (3) countries in the BRICS economies 5.What are the three (3) primary countries considered as part of the "developed world" in 1990?
4. Examine globalization in the sphere of consunption as well as production.
(A) Is global interstate system important? (B) What is the importance of market integration in globalization? (C) What is the purpose of global interstate system?