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12th Grade Terms Of Trade Quizzes, Questions & Answers
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Explore the dynamics of labor economics and international trade through this quiz. Assess skills in understanding migration impacts, factor price equalization, and productivity differences across countries, relevant for students...
Questions: 20 | Attempts: 199 | Last updated: Mar 22, 2025
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Sample Question 11. Assume that the housekeeping is a perfectly competitive global industry. A housekeeper from the Philippines is contemplating immigrating to Singapore in search of higher wages. Suppose that the housekeeper earns approximately $2,000 annually and expects to find a job in Singapore worth approximately $5,000 annually for a period of 3 years. Furthermore, assume that the cost of living in Singapore is $500 more per year than at home. 1) What can we say about the productivity of housekeepers in Singapore versus the Philippines?
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Sample Question 2Assume that the housekeeping is a perfectly competitive global industry. A housekeeper from the Philippines is contemplating immigrating to Singapore in search of higher wages. Suppose that the housekeeper earns approximately $2,000 annually and expects to find a job in Singapore worth approximately $5,000 annually for a period of 3 years. Furthermore, assume that the cost of living in Singapore is $500 more per year than at home. 2. What is the total gain to the housekeeper from migrating?
This quiz assesses knowledge on government roles in economic policies, international agreements, and monetary systems, focusing on actions and impacts.
Questions: 20 | Attempts: 2401 | Last updated: Aug 21, 2025
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Sample Question 1Which of these does the International Red Cross provide in a time of war?
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Sample Question 2Which of these is the main goal of both the World Bank and the International Monetary Fund (IMF)?