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If the United Kingdom's pound sterling is depreciating with respect to currencies in the rest of the world, which of the following correctly explains the resulting impact on the United Kingdom's balance of trade? O a Ob Oc Od The United Kingdom will likely import more goods, Increasing its balance of trade with the rest of the world. The United Kingdom will likely import more goods, decreasing its balance of trade with the rest of the world. The United Kingdom will likely export more goods, increasing its balance of trade with the rest of the world The United Kingdom will likely export more goods, decreasing its balance of trade with the rest of the world. Question 4 What distinguishes comparative advantage from absolute advantage in production? O a A country has comparative advantage in production when its opportunity costs of producing a good are higher than another country's. Ob A country has comparative advantage in production when its opportunity costs of producing a good are lower than another country's. Oc A country has comparative advantage in production when it requires fewer total inputs than does another country to produce the same output. Od A country has comparative advantage in production when it requires more total inputs than does another country to produce the same output.

If the United Kingdom's pound sterling is depreciating with respect to currencies in the rest of the world, which of the following correctly explains the resulting impact on the United Kingdom's balance of trade? O a Ob Oc Od The United Kingdom will likely import more goods, Increasing its balance of trade with the rest of the world. The United Kingdom will likely import more goods, decreasing its balance of trade with the rest of the world. The United Kingdom will likely export more goods, increasing its balance of trade with the rest of the world The United Kingdom will likely export more goods, decreasing its balance of trade with the rest of the world. Question 4 What distinguishes comparative advantage from absolute advantage in production? O a A country has comparative advantage in production when its opportunity costs of producing a good are higher than another country's. Ob A country has comparative advantage in production when its opportunity costs of producing a good are lower than another country's. Oc A country has comparative advantage in production when it requires fewer total inputs than does another country to produce the same output. Od A country has comparative advantage in production when it requires more total inputs than does another country to produce the same output.

Exploring Economics
Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter29: International Finance
Section: Chapter Questions
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Question 3 If the United Kingdom's pound sterling is depreciating with respect to currencies in the rest of the world, which of the following correctly explains the resulting impact on the United Kingdom's balance of trade? O a O b Oc Od The United Kingdom will likely import more goods, Increasing its balance of trade with the rest of the world. The United Kingdom will likely import more goods, decreasing its balance of trade with the rest of the world. The United Kingdom will likely export more goods, increasing its balance of trade with the rest of the world The United Kingdom will likely export more goods, decreasing its balance of trade with the rest of the world. Question 4 What distinguishes comparative advantage from absolute advantage in production? O a A country has comparative advantage in production when its opportunity costs of producing a good are higher than another country's. Ob A country has comparative advantage in production when its opportunity costs of producing a good are lower than another country's. O c A country has comparative advantage in production when it requires fewer total inputs than does another country to produce the same output. Od O a Ob Oc Od A country has comparative advantage in production when it requires more total inputs than does another country to produce the same output. Ques When a nation exports more than it imports, economists say it has a balance of payments. trade surplus. trade deficit. insufficient trade.
Transcribed Image Text:Question 3 If the United Kingdom's pound sterling is depreciating with respect to currencies in the rest of the world, which of the following correctly explains the resulting impact on the United Kingdom's balance of trade? O a O b Oc Od The United Kingdom will likely import more goods, Increasing its balance of trade with the rest of the world. The United Kingdom will likely import more goods, decreasing its balance of trade with the rest of the world. The United Kingdom will likely export more goods, increasing its balance of trade with the rest of the world The United Kingdom will likely export more goods, decreasing its balance of trade with the rest of the world. Question 4 What distinguishes comparative advantage from absolute advantage in production? O a A country has comparative advantage in production when its opportunity costs of producing a good are higher than another country's. Ob A country has comparative advantage in production when its opportunity costs of producing a good are lower than another country's. O c A country has comparative advantage in production when it requires fewer total inputs than does another country to produce the same output. Od O a Ob Oc Od A country has comparative advantage in production when it requires more total inputs than does another country to produce the same output. Ques When a nation exports more than it imports, economists say it has a balance of payments. trade surplus. trade deficit. insufficient trade.
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