Question 1) consumers’ surplusis the difference between the price a…

Question Answered step-by-step Question 1) consumers’ surplusis the difference between the price a… Question 1) consumers’ surplus is the difference between the priceasellers receive for a good and the maximum price they would have paid for the good.bsellers receive for a good and the minimum price for which they could have sold the good.cbuyers pay for a good and the maximum price they would have paid for the good.dbuyers pay for a good and the minimum price for which they would have sold the goodQuestion 2) Question 4 The sale of goods abroad at a price below their cost and below the price charged in the domestic market is calledQuestion options:apriming.bcoping.cinvading.ddumpingQuestion 3) Question 5 If merchandise exports in a given year are $400 billion and merchandise imports are $450 billion, then theQuestion options:acurrent account balance is +$50 billion.bcurrent account balance is -$50 billion.cmerchandise trade balance is -$50 billion and it is in deficit.dmerchandise trade balance is +$50 billion and it is in surplus.emerchandise trade balance is +$50 billion and it is in deficitQuestion 4) You go on vacation to Mexico and take $1,000 with you. During your time in Mexico, the peso appreciates in value relative to the dollar. It follows thatQuestion options:ayou will be able to buy more goods and services in Mexico.byou will be able to buy fewer goods and services in Mexico.cthe purchasing power parity theory is incorrect.dMexican workers, paid in pesos, will be able to buy fewer goods and services in MexicoQuestion 5) A “devaluation” occurs whenQuestion options:a. the official price of a currency is raised.b. the official price of a currency is lowered.c. a nation’s currency depreciates under a flexible exchange rate system.d. a nation’s currency appreciates under a flexible exchange rate system.e. none of the aboveQuestion 6) There is a flexible exchange rate system and only two countries in the world, the United States and Mexico. If the inflation rate in the United States rises relative to the inflation rate in Mexico, it follows thatQuestion options:athe dollar will appreciate and the peso will depreciate.bboth the dollar and the peso will appreciate, although the peso will appreciate before the dollar appreciates.cthe dollar will depreciate and the peso will appreciate.dboth the dollar and the peso will depreciate, although the peso will depreciate before the dollar depreciates.eThere is not enough information to answer the question.Question 7 An American computer is priced at $1,000. If the exchange rate between the U.S. dollar and the Mexican peso is $0.) 093 = 1 peso, approximately how many pesos will a Mexican buyer pay for the computer?Question options: a. 10,753 pesosb. 93 pesosc. 19,243 pesosd. 1,075 pesosQuestion 8) A quota isQuestion options:aa tax imposed on imported goods.ba legal limit on the amount of a good that can be produced by foreign owners of a firm located in a host country.ca legal limit on the amount of a good that can be imported.dan agreement between two countries in which the exporting country voluntarily agrees to limit its exports to the importing country. Business Economics Macroeconomics Share QuestionEmailCopy link Comments (0)