Test Bank for International Economics, 18th Edition by Thomas Pugel
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Course
International Economics
Institution
International Economics
Test Bank for International Economics, 18th Edition 18e by Thomas Pugel. Full Chapters test bank included
Chapter 1: International Economics Is Different
Chapter 2: The Basic Theory Using Demand and Supply
Chapter 3: Why Everybody Trades: Comparative Advantage
Chapter 4: Trade: Facto...
Chapter 01 18e Pugel
1) Which of the following statements is NOT true about how COVID-19 affected international
trade?
A) The decline in trade in services was predicted to be 8 percent, but was actually 25
percent.
B) The decline in trade in goods was predicted to be 6 percent, but was actually 10
percent.
C) The effect of COVID-19 on international trade was worse than any other global
recession.
D) China was one of the top four exporters of medical goods to the U.S.
2) Which of the following statements about comparative advantage is false?
A) It is a reason why countries trade with each other.
B) It explains why China was the top source of personal protective equipment (PPE)
exports to the U.S.
C) It explains why China was the top source of medical equipment exports to the U.S.
during the COVID-19 pandemic.
D) It explains why China was not the top source of medical equipment exports to the
U.S. during the COVID-19 pandemic.
3) Which of the following statements about personal protective equipment (PPE) is false.
A) China has a comparative advantage in the production of PPE.
B) China refused to export PPEs to the U.S. in retaliation to tariffs placed by President
Trump.
C) The shortages of PPE placed an upward pressure on the price of PPE
D) U.S. hospitals had a small stockpile of PPE because the price of PPEs had risen after
President Trump's tariffs on U.S. imports
4) Identify the incorrect answer: The U.S. could have prepared for a health emergency like
COVID-19 by:
A) Maintaining a stockpile of personal protective equipment (PPE)
B) Subsidizing the domestic production of PPE
C) Closing its border to medical imports for fear of counterfeit PPE
D) Encouraging imports from countries that produced PPE
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