Development of A Newly Found Natural Resource
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Development of A Newly Found Natural Resource
Which of the following statements is true? (1) Development of a newly found natural resource…
- Which
of the following statements is true?
(1) Development
of a newly found natural resource such as oil and gas can diminish growth of
production in other industries.
(2) Significant
increases in worker skills and capital can result in a significant increase in
the production of manufactures and can retard production of natural resources.
(3) Immiserating
growth exists when an increase in production in a country’s export industry
will result in an increase in economic welfare in that country.
a. (1) + (3)
b. (2) + (3)
c. (1) + (2)
d. (3)- Which
of the following statements is true?(1) Growth
can lead to an increase or a decrease in a country’s willingness to trade.
(2) An
increase in the size of a country’s trade triangle implies that the country is
less willing to trade.
(3) Biased
growth and a decrease in a country’s willingness to trade go hand-in-hand.
- (1)
b. (1) + (2)
c. (1) + (2) + (3)
d. (2) + (3)- Which
of the following describes a situation in which new production of a natural
resource results in a decline in production of manufactured products in a
country?
a. immizerizing growth
b. Dutch disease
c. diffusion
d. product cycle hypothesis- Which
of the following describes the finding that in a two-good world where product
prices are constant, growth in the country’s endowment of one factor of
production with the other factor unchanged results in an increase in the output
of the good that uses the growing factor intensively and a decrease in the
output of the other good?
a. diffusion
b. Dutch disease
c. product cycle hypothesis
d. Rybczynski theorem- A
small country is defined as a country:
a. that is less than 100,000
square miles.
b. that has less than $100 million
in trade per year.
c. whose trade does not affect the
international price ratio.
d. that is not a member of the
G-8.- A
large country is defined as a country:
a. that
is larger in geographic size than the average member of the United Nations.
b. whose
trade is greater than the trade of the 100 smallest member countries in the
United Nations.
c. whose
trade can have an impact on the relative international price ration.
d. that
is a member of the G-8.- When
economic growth expands a country’s willingness to trade it can result in such
a large decline in that country’s terms of trade that the country can be worse
off. This is called:
a. Dutch disease
b. immizerizing growth
c. biased growth
d. diffusion- Which
of the following conditions is unlikelyto be necessary to for
immiserizing growth to develop?
a. The country’s growth must be
strongly biased toward expanding the country’s supply of exports. The increase
in exports must be large enough to have a noticeable impact on world prices.
b. The foreign demand for the
country’s exports must be price inelastic so that an expansion in the country’s
export supply leads to a large drop in the international price of the export
product.
c. The country must have a clear
absolute and comparative advantage in producing one good and import all the
other goods consumed in the economy.
d. Before the surge in growth, the
country must be heavily engaged in trade so that the welfare loss from the
decline in the terms of trade is great enough to offset the gains from being
able to produce more.- The
international spread of technology is called:
a. Dutch disease.
b. immizerizing growth.
c. research and development.
d. diffusion.- Organized
efforts to develop new technology are called:
a. Dutch disease.
b. immizerizing growth.
c. research and development.
d. diffusion.Development of A Newly Found Natural Resource
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). 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