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Gillespie: Foundations of Economics 2e

Unit 29


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Question 1

Which of the following is not an argument for protectionism?

Question 2

A demand switching policy to improve the trade position could involve:

Question 3

Free trade is based on the principle of:

Question 4

If a country can produce 10 of product A or 4 of product B the opportunity cost of 1B is:

Question 5


Question 6

The terms of trade measure:

Question 7

In a floating exchange rate system:

Question 8

The balance of payments equals:

Question 9

If there was a balance of payments deficit then in a floating exchange rate system:

Question 10

To prevent the external value of the currency from falling, the government might: