Quizweek1

Grading Summary

These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. | Date Taken: | 7/22/2012 |

Time Spent: | 52 min , 50 secs |

Points Received: | 10 / 15  (66.7%) |

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Question Type: | # Of Questions: | # Correct: |

Multiple Choice | 15 | 10 |

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Grade Details - All Questions |

 1. | Question : | (TCO 3) An unfavorable balance of trade occurs when the value of: |

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  | Student Answer: | |  imports equals the value of exports |

  | | |  imports exceeds the value of exports |

  | | |  cash inflows are equal to the value of cash outflows |

  | | |  exports exceed the value of imports |

  | Instructor Explanation: | Chapter 3 Page 64 |

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  | Points Received: | 1 of 1 |

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 2. | Question : | (TCO 3) Which of the following is considered when calculating a country's balance of payments? |

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  | Student Answer: | |  military expenditures |

  | | |  state unemployment |

  | | |  domestic inflation rates |

  | | |  foreign inflation rates |

  | Instructor Explanation: | Chapter 3 Page 64 |

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  | Points Received: | 0 of 1 |

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 3. | Question : | (TCO 3) Country A is an extremely efficient producer of tin. However, its climate and terrain make it difficult to produce corn. According to the theory of comparative advantage, Country A should: |

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  | Student Answer: | |  produce both tin and corn in order to remain self-sufficient |

  | | |  watch the global market to see which product is bringing the highest price |

  | | |  import the resources needed to produce corn |

  | | |  concentrate its production on tin and buy corn from an efficient producer |

  | Instructor Explanation: | Chapter 3 Page 61 |

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  | Points Received: | 0 of 1 |

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 4. | Question : | (TCO 3)...