Question

In poor countries, when child laborers get laid off they:

Question 9 options:

a)	take lower-quality jobs with worse pay.

b)	start attending school.

c)	have more time to play on the playground.

d)	don't experience a serious impact.

A quota is a stated quality standard that an imported good must reach before it can be allowed into the borders of the importing country.

Question 13 options:

a)

False

b)

True

If Tyler and Alex are trading partners, do their gains from trade depend on whether Tyler and Alex live in the same country?

Question 18 options:

a)	It doesn't matter in which country Tyler and Alex live.

b)	It is better if one of them is American and one is not.

c)	It is better if Tyler and Alex are both Americans.

d)	It is better if neither of them is American.

Answer 1

1 - Option A

Take lower quality job with worse pay

This is because in poor country the main objective is to earn money to run livelihood. The labors do not sit ideal waiting for the desired wages. They are ready to work on any wage they get

2 - False

Quota is the standard quantity and the maximum quantity which can be imported. It is not the minimum quantity.

3 - Option A

It doesnt matter in which country Tyler and Alex live

The gains in trade are derived from comparitive and absolute advantages.