Economics For Today
9th Edition
ISBN: 9781305507074
Author: Tucker, Irvin B.
Publisher: Cengage Learning,
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Chapter 2, Problem 15SQ
To determine
Identify the correct option that accelerates the
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To improve living standards, what should policymakers do?
a. impose restriction on foreign competition
b. formulate policies designed to increase productivity
c. impose tougher immigration policies
d. provide subsidized childcare to low-income families
Give typing answer with explanation and conclusion
According to classical economists, instead of mercantilism, which says countries should produce everything themselves, what should countries do?
a. Use tariffs to protect local industries
b. Create an organization that dictates how countries should trade
c. Specialize in producing what they are good at producing, and import other goods
d. Engage in trade wars to try to gain an advantage
Which phrase best completes the diagram?
Globalization
OA. Improved incomes for poor people in all countries
B. More unequal distribution of natural resources
C. Decreased demand for natural resources
D. Decreased competition for small businesses
Chapter 2 Solutions
Economics For Today
Ch. 2.6 - Prob. 1YTECh. 2.7 - Prob. 1GECh. 2 - Prob. 1SQPCh. 2 - Prob. 2SQPCh. 2 - Prob. 3SQPCh. 2 - Prob. 4SQPCh. 2 - Prob. 5SQPCh. 2 - Prob. 6SQPCh. 2 - Prob. 7SQPCh. 2 - Prob. 8SQP
Ch. 2 - Prob. 9SQPCh. 2 - Prob. 10SQPCh. 2 - Prob. 11SQPCh. 2 - Prob. 12SQPCh. 2 - Prob. 1SQCh. 2 - Prob. 2SQCh. 2 - Prob. 3SQCh. 2 - Prob. 4SQCh. 2 - Prob. 5SQCh. 2 - Prob. 6SQCh. 2 - Prob. 7SQCh. 2 - Prob. 8SQCh. 2 - Prob. 9SQCh. 2 - Prob. 10SQCh. 2 - Prob. 11SQCh. 2 - Prob. 12SQCh. 2 - Prob. 13SQCh. 2 - Prob. 14SQCh. 2 - Prob. 15SQCh. 2 - Prob. 16SQCh. 2 - Prob. 17SQCh. 2 - Prob. 18SQCh. 2 - Prob. 19SQCh. 2 - Prob. 20SQ
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- In order for for a country to be able to find jobs for its huge population and hence a huge labor force, a. it must prevent labor immigration. b. it must advance its technology. c. it must respond to the taste and preferences of employers. d. it must be able to export lots of commodities. e. a and b f. a and c. g. all are correctarrow_forwardThe proliferation of trade in recent decades has led to a. increased competition. b. deflationary pressures on prices on goods and services. c. less developed nations to improve their inhabitants' standards of living. d. once socialist nations to become more market oriented. e. all of the above.arrow_forwardAn economic policy of exporting raw materials and importing manufactured goods a. develops the economy b. develops science and technology c. hinders advancement in science and technology d. hinders economic developmentarrow_forward
- Why do countries produce local goods when it is cheaper to importarrow_forwardEconomics Why would Egypt import goods that they already export?arrow_forwardThe ideas of the Mercantilists are alive today. Which of these would a modern day Mercantilist agree with? a. Trade with other nations should be as open and free as possible. b. The Government should introduce policies that lead to a positive trade balance. c. The accumulation of foreign exchange reserves is irrelevant. d. The Government should own the means of producing goods and services. In the Great Depression, deflation caused unemployment because a. the real value of loans increased so firms had to cut back on staff. b. household incomes reduced as prices fell meaning less spending on goods and services. c. the Government reduced support to businesses meaning many closed down. d. with sticky nominal wages, labour becomes more expensive in real termsarrow_forward
- If there was an adverse technological shock which decreased the demand for labor, then A. GDP would decrease. B. GDP would increase. C. Imports would decrease. D. Imports would increase.arrow_forwardI’m what way did world economic patterns and growth change as Latin America became more integrated into the world economy?arrow_forwardIt is important to understand the history and geography of countries. History impacts the values of a society and geography impacts the commercial activity of a country. Please describe each and give examples.arrow_forward
- 1. Make a comparison between globalization from regionalization. 2. Any idea what is sustainable development? 3. How can we help to attain sustainable development?arrow_forward12 12. The key idea behind the concept of mercantilism is that countries: A. did not need colonies B. wanted to export more goods than they were importing C. wanted to import more goods than they were exporting D) D. no longer needed entrepreneurs. Type here to search 五arrow_forwardWho loses when a country imports cheaper goods from abroad?arrow_forward
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