Question

Please I need the correct answers since I'm doing a test. Please!! Please!! 1. Suppose Czech...

Please I need the correct answers since I'm doing a test. Please!! Please!!

1. Suppose Czech businessmen began purchasing American properties. How would this impact the foreign exchange market for the koruna and the dollar? How would the changing value of the dollar impact American exports?

U.S. dollar/Czech koruna/Exports

Appreciate/ Appreciate/ Decrease

Appreciate/ Depreciate/ Decrease

Appreciate/ Depreciate/ Increase

Depreciate/ Appreciate/ Decrease

Depreciate/ Appreciate/ Increase

2. If the US. Government impose a tariff on imported steel to protect American Steel Manufacturers, then

Consumers pay less for steel sold in the nation

Consumers benefits from the lower priced domestic steel

Consumers pay more for steel sold in the nation

Producers will export more domestic steel to foreign nations

Producers will supply more domestic steel at lower prices

3. If the United states trades with other nations according to comparative advantage, then

Americans would enjoy a higher standard of living

There would be a loss of jobs in import industries

There would be a greater variety of goods

I only

II only

III only

I and II only

I and III only

4. Suppose the legislature of Louisville voted to impose a protective tariff on chicken. Which of the following would be true in the short-run?

There will be a decrease in chicken production in Louisville

There will be a decrease in supply chicken in Louisville

There will be an increase in chicken production by foreign nations

I Only

II Only

III Only

I and III only

II and III only

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Homework Answers

Answer #1

1-

Option B is the correct Option

Appreciate/ Depreciate/ Decrease.

Due to investment USD will have more value. Money is going outside the country so Czech koruna will depreciate and export will decrease.

2-

Option C is correct

When the tariff was imposed then steel cost were increased for companies hence the other customers which were buying steel for manufacturing like Ford, GE etc faced higher production cost. Within 2 years the tariff was removed.

3-

I and III only are the correct options.

There will not be any loss in import industry due to increased traffic the jobs will be increased. Due to variety of products the standard of living will be increased as well.

4- II and III only are the correct options.

In short run there will be less effect on chicken production in Louisville.

I hope your doubts are cleared now. Pl give me a thumbs-up for same.

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