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jdejager
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  1. <?xml version="1.0" encoding="UTF-8" standalone="no" ?>
  2. <quiz>
  3.  
  4. <question type="category">
  5. <category>
  6. <text>$course$/Chapter 2: The Power of Trade and Comparative Advantage</text>
  7. </category>
  8. </question>
  9.  
  10. <question type="multichoice">
  11. <name>
  12. <text>Trade creates value because:</text>
  13. </name>
  14. <questiontext format="html">
  15. <text>
  16.  
  17. <![CDATA[<div>Trade creates value because:</div>]]>
  18. </text>
  19. </questiontext>
  20. <defaultgrade>1</defaultgrade>
  21. <penalty>0.1</penalty>
  22. <shuffleanswers>1</shuffleanswers>
  23. <shuffleanswers>true</shuffleanswers>
  24. <single>true</single>
  25. <answernumbering>ABCD</answernumbering>
  26. <answer fraction="0">
  27. <text>
  28.  
  29. <![CDATA[people get what they want.]]>
  30. </text>
  31. </answer>
  32. <answer fraction="0">
  33. <text>
  34.  
  35. <![CDATA[raw materials are transformed into finished products.]]>
  36. </text>
  37. </answer>
  38. <answer fraction="100">
  39. <text>
  40.  
  41. <![CDATA[people exchange things they do not want for things they do.]]>
  42. </text>
  43. </answer>
  44. <answer fraction="0">
  45. <text>
  46.  
  47. <![CDATA[idle resources are put to use.]]>
  48. </text>
  49. </answer>
  50. </question>
  51.  
  52. <question type="multichoice">
  53. <name>
  54. <text>eBay creates value by:</text>
  55. </name>
  56. <questiontext format="html">
  57. <text>
  58.  
  59. <![CDATA[<div>eBay creates value by:</div>]]>
  60. </text>
  61. </questiontext>
  62. <defaultgrade>1</defaultgrade>
  63. <penalty>0.1</penalty>
  64. <shuffleanswers>1</shuffleanswers>
  65. <shuffleanswers>true</shuffleanswers>
  66. <single>true</single>
  67. <answernumbering>ABCD</answernumbering>
  68. <answer fraction="0">
  69. <text>
  70.  
  71. <![CDATA[helping sellers trick buyers into purchasing broken items.]]>
  72. </text>
  73. </answer>
  74. <answer fraction="100">
  75. <text>
  76.  
  77. <![CDATA[moving goods like broken laser pointers from people who don't want them to people who do.]]>
  78. </text>
  79. </answer>
  80. <answer fraction="0">
  81. <text>
  82.  
  83. <![CDATA[helping people with the same preferences find each other.]]>
  84. </text>
  85. </answer>
  86. <answer fraction="0">
  87. <text>
  88.  
  89. <![CDATA[moving toys from children who want them to children who don't.]]>
  90. </text>
  91. </answer>
  92. </question>
  93.  
  94. <question type="multichoice">
  95. <name>
  96. <text>David sells his car, which he considers worthless, to Cameron for $200. Which of the following statements is true?</text>
  97. </name>
  98. <questiontext format="html">
  99. <text>
  100.  
  101. <![CDATA[<div>David sells his car, which he considers worthless, to Cameron for $200. Which of the following statements is true?</div>]]>
  102. </text>
  103. </questiontext>
  104. <defaultgrade>1</defaultgrade>
  105. <penalty>0.1</penalty>
  106. <shuffleanswers>1</shuffleanswers>
  107. <shuffleanswers>true</shuffleanswers>
  108. <single>true</single>
  109. <answernumbering>ABCD</answernumbering>
  110. <answer fraction="100">
  111. <text>
  112.  
  113. <![CDATA[David and Cameron must have different preferences for the car.]]>
  114. </text>
  115. </answer>
  116. <answer fraction="0">
  117. <text>
  118.  
  119. <![CDATA[This trade did not create value because Cameron is buying a car that David considers worthless.]]>
  120. </text>
  121. </answer>
  122. <answer fraction="0">
  123. <text>
  124.  
  125. <![CDATA[Cameron is the only one made better off by the trade.]]>
  126. </text>
  127. </answer>
  128. <answer fraction="0">
  129. <text>
  130.  
  131. <![CDATA[David is made better off by the trade, but Cameron is made worse off.]]>
  132. </text>
  133. </answer>
  134. </question>
  135.  
  136. <question type="multichoice">
  137. <name>
  138. <text>Mark values his drum set at $800 and Ella values her guitar at $1,000. Suppose that Mark trades his drum set for Ella's guitar.</text>
  139. </name>
  140. <questiontext format="html">
  141. <text>
  142.  
  143. <![CDATA[<div>Mark values his drum set at $800 and Ella values her guitar at $1,000. Suppose that Mark trades his drum set for Ella's guitar.</div>]]>
  144. </text>
  145. </questiontext>
  146. <defaultgrade>1</defaultgrade>
  147. <penalty>0.1</penalty>
  148. <shuffleanswers>1</shuffleanswers>
  149. <shuffleanswers>true</shuffleanswers>
  150. <single>true</single>
  151. <answernumbering>ABCD</answernumbering>
  152. <answer fraction="0">
  153. <text>
  154.  
  155. <![CDATA[This trade makes Ella worse off by $200.]]>
  156. </text>
  157. </answer>
  158. <answer fraction="0">
  159. <text>
  160.  
  161. <![CDATA[This trade makes Mark better off by $200.]]>
  162. </text>
  163. </answer>
  164. <answer fraction="100">
  165. <text>
  166.  
  167. <![CDATA[Mark must value Ella's guitar for at least $800, and Ella must value Mark's drum set for at least $1,000.]]>
  168. </text>
  169. </answer>
  170. <answer fraction="0">
  171. <text>
  172.  
  173. <![CDATA[This trade decreases total value by moving the guitar and drum away from people who placed a high value on them.]]>
  174. </text>
  175. </answer>
  176. </question>
  177.  
  178. <question type="multichoice">
  179. <name>
  180. <text>Facilitators of trade (such as Pierre Omidyar, the developer of eBay):</text>
  181. </name>
  182. <questiontext format="html">
  183. <text>
  184.  
  185. <![CDATA[<div>Facilitators of trade (such as Pierre Omidyar, the developer of eBay):</div>]]>
  186. </text>
  187. </questiontext>
  188. <defaultgrade>1</defaultgrade>
  189. <penalty>0.1</penalty>
  190. <shuffleanswers>1</shuffleanswers>
  191. <shuffleanswers>true</shuffleanswers>
  192. <single>true</single>
  193. <answernumbering>ABCD</answernumbering>
  194. <answer fraction="100">
  195. <text>
  196.  
  197. <![CDATA[may become very rich since they are creating value for many individuals.]]>
  198. </text>
  199. </answer>
  200. <answer fraction="0">
  201. <text>
  202.  
  203. <![CDATA[find it very hard to profit from their services since they are not directly involved in the trades.]]>
  204. </text>
  205. </answer>
  206. <answer fraction="0">
  207. <text>
  208.  
  209. <![CDATA[typically only profit from their services if they are able to obtain government patent rights.]]>
  210. </text>
  211. </answer>
  212. <answer fraction="0">
  213. <text>
  214.  
  215. <![CDATA[are usually seen as taking advantage of consumers.]]>
  216. </text>
  217. </answer>
  218. </question>
  219.  
  220. <question type="multichoice">
  221. <name>
  222. <text>Trade makes people better off when:</text>
  223. </name>
  224. <questiontext format="html">
  225. <text>
  226.  
  227. <![CDATA[<div>Trade makes people better off when:</div>]]>
  228. </text>
  229. </questiontext>
  230. <defaultgrade>1</defaultgrade>
  231. <penalty>0.1</penalty>
  232. <shuffleanswers>1</shuffleanswers>
  233. <shuffleanswers>true</shuffleanswers>
  234. <single>true</single>
  235. <answernumbering>ABCD</answernumbering>
  236. <answer fraction="0">
  237. <text>
  238.  
  239. <![CDATA[everyone wants the same things as other people.]]>
  240. </text>
  241. </answer>
  242. <answer fraction="0">
  243. <text>
  244.  
  245. <![CDATA[some people are less productive than others.]]>
  246. </text>
  247. </answer>
  248. <answer fraction="0">
  249. <text>
  250.  
  251. <![CDATA[people cannot specialize in certain activities.]]>
  252. </text>
  253. </answer>
  254. <answer fraction="100">
  255. <text>
  256.  
  257. <![CDATA[people have different preferences.]]>
  258. </text>
  259. </answer>
  260. </question>
  261.  
  262. <question type="multichoice">
  263. <name>
  264. <text>Each of 100 people receives a random item from a grocery store and assigns it a value between 1 (low) and 10 (high). They trade those items among themselves for items they prefer rather than those they randomly received and then assign a second value (aga</text>
  265. </name>
  266. <questiontext format="html">
  267. <text>
  268.  
  269. <![CDATA[<div>Each of 100 people receives a random item from a grocery store and assigns it a value between 1 (low) and 10 (high). They trade those items among themselves for items they prefer rather than those they randomly received and then assign a second value (again, 1 to 10) to the item that they end up with after the trading concludes. How would the sum of those values before trading compare with the sum after trading?</div>]]>
  270. </text>
  271. </questiontext>
  272. <defaultgrade>1</defaultgrade>
  273. <penalty>0.1</penalty>
  274. <shuffleanswers>1</shuffleanswers>
  275. <shuffleanswers>true</shuffleanswers>
  276. <single>true</single>
  277. <answernumbering>ABCD</answernumbering>
  278. <answer fraction="0">
  279. <text>
  280.  
  281. <![CDATA[The value would stay the same because no new goods were introduced.]]>
  282. </text>
  283. </answer>
  284. <answer fraction="0">
  285. <text>
  286.  
  287. <![CDATA[The value would stay the same because no one has a comparative advantage.]]>
  288. </text>
  289. </answer>
  290. <answer fraction="0">
  291. <text>
  292.  
  293. <![CDATA[After trading, value would be lower because no one can specialize.]]>
  294. </text>
  295. </answer>
  296. <answer fraction="100">
  297. <text>
  298.  
  299. <![CDATA[After trading, value would be higher because preferences are diverse.]]>
  300. </text>
  301. </answer>
  302. </question>
  303.  
  304. <question type="multichoice">
  305. <name>
  306. <text>Which of the following is least likely a consequence of the division of knowledge?</text>
  307. </name>
  308. <questiontext format="html">
  309. <text>
  310.  
  311. <![CDATA[<div>Which of the following is least likely a consequence of the division of knowledge?</div>]]>
  312. </text>
  313. </questiontext>
  314. <defaultgrade>1</defaultgrade>
  315. <penalty>0.1</penalty>
  316. <shuffleanswers>1</shuffleanswers>
  317. <shuffleanswers>true</shuffleanswers>
  318. <single>true</single>
  319. <answernumbering>ABCD</answernumbering>
  320. <answer fraction="0">
  321. <text>
  322.  
  323. <![CDATA[The development of the computer tablet.]]>
  324. </text>
  325. </answer>
  326. <answer fraction="100">
  327. <text>
  328.  
  329. <![CDATA[A totally self-sufficient family farm.]]>
  330. </text>
  331. </answer>
  332. <answer fraction="0">
  333. <text>
  334.  
  335. <![CDATA[A new delivery method for cancer-fighting drugs.]]>
  336. </text>
  337. </answer>
  338. <answer fraction="0">
  339. <text>
  340.  
  341. <![CDATA[The provision of a new bike path in your community.]]>
  342. </text>
  343. </answer>
  344. </question>
  345.  
  346. <question type="multichoice">
  347. <name>
  348. <text>Only a very small portion of people who use microwaves know how they work. This is an example of:</text>
  349. </name>
  350. <questiontext format="html">
  351. <text>
  352.  
  353. <![CDATA[<div>Only a very small portion of people who use microwaves know how they work. This is an example of:</div>]]>
  354. </text>
  355. </questiontext>
  356. <defaultgrade>1</defaultgrade>
  357. <penalty>0.1</penalty>
  358. <shuffleanswers>1</shuffleanswers>
  359. <shuffleanswers>true</shuffleanswers>
  360. <single>true</single>
  361. <answernumbering>ABCD</answernumbering>
  362. <answer fraction="0">
  363. <text>
  364.  
  365. <![CDATA[a production possibility frontier.]]>
  366. </text>
  367. </answer>
  368. <answer fraction="100">
  369. <text>
  370.  
  371. <![CDATA[division of knowledge.]]>
  372. </text>
  373. </answer>
  374. <answer fraction="0">
  375. <text>
  376.  
  377. <![CDATA[absolute advantage.]]>
  378. </text>
  379. </answer>
  380. <answer fraction="0">
  381. <text>
  382.  
  383. <![CDATA[opportunity cost.]]>
  384. </text>
  385. </answer>
  386. </question>
  387.  
  388. <question type="multichoice">
  389. <name>
  390. <text>Division of knowledge refers to:</text>
  391. </name>
  392. <questiontext format="html">
  393. <text>
  394.  
  395. <![CDATA[<div>Division of knowledge refers to:</div>]]>
  396. </text>
  397. </questiontext>
  398. <defaultgrade>1</defaultgrade>
  399. <penalty>0.1</penalty>
  400. <shuffleanswers>1</shuffleanswers>
  401. <shuffleanswers>true</shuffleanswers>
  402. <single>true</single>
  403. <answernumbering>ABCD</answernumbering>
  404. <answer fraction="0">
  405. <text>
  406.  
  407. <![CDATA[dividing tasks into different subtasks and having one person perform all these subtasks.]]>
  408. </text>
  409. </answer>
  410. <answer fraction="100">
  411. <text>
  412.  
  413. <![CDATA[people learning different tasks in which they specialize.]]>
  414. </text>
  415. </answer>
  416. <answer fraction="0">
  417. <text>
  418.  
  419. <![CDATA[assigning one person to learn all the different ways to perform the same task.]]>
  420. </text>
  421. </answer>
  422. <answer fraction="0">
  423. <text>
  424.  
  425. <![CDATA[limiting what each person knows about another person.]]>
  426. </text>
  427. </answer>
  428. </question>
  429.  
  430. <question type="multichoice">
  431. <name>
  432. <text>Which of the following situations would lead to more starvation?</text>
  433. </name>
  434. <questiontext format="html">
  435. <text>
  436.  
  437. <![CDATA[<div>Which of the following situations would lead to more starvation?</div>]]>
  438. </text>
  439. </questiontext>
  440. <defaultgrade>1</defaultgrade>
  441. <penalty>0.1</penalty>
  442. <shuffleanswers>1</shuffleanswers>
  443. <shuffleanswers>true</shuffleanswers>
  444. <single>true</single>
  445. <answernumbering>ABCD</answernumbering>
  446. <answer fraction="100">
  447. <text>
  448.  
  449. <![CDATA[a world where everyone grows his or her own food and there is no trade]]>
  450. </text>
  451. </answer>
  452. <answer fraction="0">
  453. <text>
  454.  
  455. <![CDATA[a world with trade and lots of specialization]]>
  456. </text>
  457. </answer>
  458. <answer fraction="0">
  459. <text>
  460.  
  461. <![CDATA[a world with immense division of knowledge]]>
  462. </text>
  463. </answer>
  464. <answer fraction="0">
  465. <text>
  466.  
  467. <![CDATA[a world where only some people specialize in food and everyone else produces something else]]>
  468. </text>
  469. </answer>
  470. </question>
  471.  
  472. <question type="multichoice">
  473. <name>
  474. <text>The main reason why specialization can raise productivity is that:</text>
  475. </name>
  476. <questiontext format="html">
  477. <text>
  478.  
  479. <![CDATA[<div>The main reason why specialization can raise productivity is that:</div>]]>
  480. </text>
  481. </questiontext>
  482. <defaultgrade>1</defaultgrade>
  483. <penalty>0.1</penalty>
  484. <shuffleanswers>1</shuffleanswers>
  485. <shuffleanswers>true</shuffleanswers>
  486. <single>true</single>
  487. <answernumbering>ABCD</answernumbering>
  488. <answer fraction="100">
  489. <text>
  490.  
  491. <![CDATA[knowledge in human brains is limited.]]>
  492. </text>
  493. </answer>
  494. <answer fraction="0">
  495. <text>
  496.  
  497. <![CDATA[some persons have more knowledge than others.]]>
  498. </text>
  499. </answer>
  500. <answer fraction="0">
  501. <text>
  502.  
  503. <![CDATA[it is always good to know less than more.]]>
  504. </text>
  505. </answer>
  506. <answer fraction="0">
  507. <text>
  508.  
  509. <![CDATA[it is impossible to learn anything well.]]>
  510. </text>
  511. </answer>
  512. </question>
  513.  
  514. <question type="multichoice">
  515. <name>
  516. <text>Knowledge increases ____________ and specialization __________ total output.</text>
  517. </name>
  518. <questiontext format="html">
  519. <text>
  520.  
  521. <![CDATA[<div>Knowledge increases ____________ and specialization __________ total output.</div>]]>
  522. </text>
  523. </questiontext>
  524. <defaultgrade>1</defaultgrade>
  525. <penalty>0.1</penalty>
  526. <shuffleanswers>1</shuffleanswers>
  527. <shuffleanswers>true</shuffleanswers>
  528. <single>true</single>
  529. <answernumbering>ABCD</answernumbering>
  530. <answer fraction="0">
  531. <text>
  532.  
  533. <![CDATA[education; decreases]]>
  534. </text>
  535. </answer>
  536. <answer fraction="100">
  537. <text>
  538.  
  539. <![CDATA[productivity; increases]]>
  540. </text>
  541. </answer>
  542. <answer fraction="0">
  543. <text>
  544.  
  545. <![CDATA[perception; increases]]>
  546. </text>
  547. </answer>
  548. <answer fraction="0">
  549. <text>
  550.  
  551. <![CDATA[economies of scale; decreases]]>
  552. </text>
  553. </answer>
  554. </question>
  555.  
  556. <question type="multichoice">
  557. <name>
  558. <text>Economic growth in the modern era is primarily due to the:</text>
  559. </name>
  560. <questiontext format="html">
  561. <text>
  562.  
  563. <![CDATA[<div>Economic growth in the modern era is primarily due to the:</div>]]>
  564. </text>
  565. </questiontext>
  566. <defaultgrade>1</defaultgrade>
  567. <penalty>0.1</penalty>
  568. <shuffleanswers>1</shuffleanswers>
  569. <shuffleanswers>true</shuffleanswers>
  570. <single>true</single>
  571. <answernumbering>ABCD</answernumbering>
  572. <answer fraction="0">
  573. <text>
  574.  
  575. <![CDATA[increases in the number of people.]]>
  576. </text>
  577. </answer>
  578. <answer fraction="0">
  579. <text>
  580.  
  581. <![CDATA[increases in money.]]>
  582. </text>
  583. </answer>
  584. <answer fraction="0">
  585. <text>
  586.  
  587. <![CDATA[defining of nation borders.]]>
  588. </text>
  589. </answer>
  590. <answer fraction="100">
  591. <text>
  592.  
  593. <![CDATA[creation of new knowledge.]]>
  594. </text>
  595. </answer>
  596. </question>
  597.  
  598. <question type="multichoice">
  599. <name>
  600. <text>Specialization and trade can _____ the per-unit cost of production because _____ .</text>
  601. </name>
  602. <questiontext format="html">
  603. <text>
  604.  
  605. <![CDATA[<div>Specialization and trade can _____ the per-unit cost of production because _____ .</div>]]>
  606. </text>
  607. </questiontext>
  608. <defaultgrade>1</defaultgrade>
  609. <penalty>0.1</penalty>
  610. <shuffleanswers>1</shuffleanswers>
  611. <shuffleanswers>true</shuffleanswers>
  612. <single>true</single>
  613. <answernumbering>ABCD</answernumbering>
  614. <answer fraction="0">
  615. <text>
  616.  
  617. <![CDATA[decrease; it allows for more small-scale production.]]>
  618. </text>
  619. </answer>
  620. <answer fraction="100">
  621. <text>
  622.  
  623. <![CDATA[decrease; it creates economies of scale associated with large-scale production]]>
  624. </text>
  625. </answer>
  626. <answer fraction="0">
  627. <text>
  628.  
  629. <![CDATA[increase; it requires more expensive, specialized equipment]]>
  630. </text>
  631. </answer>
  632. <answer fraction="0">
  633. <text>
  634.  
  635. <![CDATA[increase; more expensive labor is needed.]]>
  636. </text>
  637. </answer>
  638. </question>
  639.  
  640. <question type="multichoice">
  641. <name>
  642. <text>The United States and the European Union are groups of semi-independent states that have come together under an agreement whereby resources can travel freely across borders and a common currency is in use. Which of the following statements best explains h</text>
  643. </name>
  644. <questiontext format="html">
  645. <text>
  646.  
  647. <![CDATA[<div>The United States and the European Union are groups of semi-independent states that have come together under an agreement whereby resources can travel freely across borders and a common currency is in use. Which of the following statements best explains how this allows for the achievement of economies of scale?</div>]]>
  648. </text>
  649. </questiontext>
  650. <defaultgrade>1</defaultgrade>
  651. <penalty>0.1</penalty>
  652. <shuffleanswers>1</shuffleanswers>
  653. <shuffleanswers>true</shuffleanswers>
  654. <single>true</single>
  655. <answernumbering>ABCD</answernumbering>
  656. <answer fraction="0">
  657. <text>
  658.  
  659. <![CDATA[Each state or country can now target larger markets and can thus earn more export revenue.]]>
  660. </text>
  661. </answer>
  662. <answer fraction="0">
  663. <text>
  664.  
  665. <![CDATA[States and countries no longer have to worry about borders impeding trade.]]>
  666. </text>
  667. </answer>
  668. <answer fraction="100">
  669. <text>
  670.  
  671. <![CDATA[Each state or country can adopt large-scale production techniques that allow lower per-unit costs of production.]]>
  672. </text>
  673. </answer>
  674. <answer fraction="0">
  675. <text>
  676.  
  677. <![CDATA[The removal of trade borders and a common currency enhances trade between member states.]]>
  678. </text>
  679. </answer>
  680. </question>
  681.  
  682. <question type="multichoice">
  683. <name>
  684. <text>One of the outcomes of specialization is that it leads to _____, which _____ the average cost of production.</text>
  685. </name>
  686. <questiontext format="html">
  687. <text>
  688.  
  689. <![CDATA[<div>One of the outcomes of specialization is that it leads to _____, which _____ the average cost of production.</div>]]>
  690. </text>
  691. </questiontext>
  692. <defaultgrade>1</defaultgrade>
  693. <penalty>0.1</penalty>
  694. <shuffleanswers>1</shuffleanswers>
  695. <shuffleanswers>true</shuffleanswers>
  696. <single>true</single>
  697. <answernumbering>ABCD</answernumbering>
  698. <answer fraction="0">
  699. <text>
  700.  
  701. <![CDATA[smaller-scale production; lowers]]>
  702. </text>
  703. </answer>
  704. <answer fraction="0">
  705. <text>
  706.  
  707. <![CDATA[smaller-scale production; raises]]>
  708. </text>
  709. </answer>
  710. <answer fraction="0">
  711. <text>
  712.  
  713. <![CDATA[larger-scale production; raises]]>
  714. </text>
  715. </answer>
  716. <answer fraction="100">
  717. <text>
  718.  
  719. <![CDATA[larger-scale production; lowers]]>
  720. </text>
  721. </answer>
  722. </question>
  723.  
  724. <question type="multichoice">
  725. <name>
  726. <text>If each of us had to grow all of our own food:</text>
  727. </name>
  728. <questiontext format="html">
  729. <text>
  730.  
  731. <![CDATA[<div>If each of us had to grow all of our own food:</div>]]>
  732. </text>
  733. </questiontext>
  734. <defaultgrade>1</defaultgrade>
  735. <penalty>0.1</penalty>
  736. <shuffleanswers>1</shuffleanswers>
  737. <shuffleanswers>true</shuffleanswers>
  738. <single>true</single>
  739. <answernumbering>ABCD</answernumbering>
  740. <answer fraction="100">
  741. <text>
  742.  
  743. <![CDATA[civilization would collapse and billions of people would starve.]]>
  744. </text>
  745. </answer>
  746. <answer fraction="0">
  747. <text>
  748.  
  749. <![CDATA[we would have more time for other pursuits.]]>
  750. </text>
  751. </answer>
  752. <answer fraction="0">
  753. <text>
  754.  
  755. <![CDATA[people would be richer since they would no longer have to spend money on groceries.]]>
  756. </text>
  757. </answer>
  758. <answer fraction="0">
  759. <text>
  760.  
  761. <![CDATA[the total amount of knowledge in society would increase since everyone would have to learn about farming.]]>
  762. </text>
  763. </answer>
  764. </question>
  765.  
  766. <question type="multichoice">
  767. <name>
  768. <text>If instead of specialized doctors (neurologists, cardiologists, gastroenterologists, etc.) we had doctors who each knew the same things about all aspects of medicine, it would be:</text>
  769. </name>
  770. <questiontext format="html">
  771. <text>
  772.  
  773. <![CDATA[<div>If instead of specialized doctors (neurologists, cardiologists, gastroenterologists, etc.) we had doctors who each knew the same things about all aspects of medicine, it would be:</div>]]>
  774. </text>
  775. </questiontext>
  776. <defaultgrade>1</defaultgrade>
  777. <penalty>0.1</penalty>
  778. <shuffleanswers>1</shuffleanswers>
  779. <shuffleanswers>true</shuffleanswers>
  780. <single>true</single>
  781. <answernumbering>ABCD</answernumbering>
  782. <answer fraction="0">
  783. <text>
  784.  
  785. <![CDATA[better because then we could just go to one doctor with no loss of quality in medical care.]]>
  786. </text>
  787. </answer>
  788. <answer fraction="0">
  789. <text>
  790.  
  791. <![CDATA[better because total medical knowledge in society would increase.]]>
  792. </text>
  793. </answer>
  794. <answer fraction="0">
  795. <text>
  796.  
  797. <![CDATA[worse because the human brain is limited.]]>
  798. </text>
  799. </answer>
  800. <answer fraction="100">
  801. <text>
  802.  
  803. <![CDATA[worse because total medical knowledge in society would decrease.]]>
  804. </text>
  805. </answer>
  806. </question>
  807.  
  808. <question type="multichoice">
  809. <name>
  810. <text>Roses grown in Kenya travel to Amsterdam and ultimately to your local flower shop because:</text>
  811. </name>
  812. <questiontext format="html">
  813. <text>
  814.  
  815. <![CDATA[<div>Roses grown in Kenya travel to Amsterdam and ultimately to your local flower shop because:</div>]]>
  816. </text>
  817. </questiontext>
  818. <defaultgrade>1</defaultgrade>
  819. <penalty>0.1</penalty>
  820. <shuffleanswers>1</shuffleanswers>
  821. <shuffleanswers>true</shuffleanswers>
  822. <single>true</single>
  823. <answernumbering>ABCD</answernumbering>
  824. <answer fraction="0">
  825. <text>
  826.  
  827. <![CDATA[the World Rose Commission coordinates the different elements of the rose industry.]]>
  828. </text>
  829. </answer>
  830. <answer fraction="100">
  831. <text>
  832.  
  833. <![CDATA[markets coordinate the specialization and trade necessary for the flower industry to function.]]>
  834. </text>
  835. </answer>
  836. <answer fraction="0">
  837. <text>
  838.  
  839. <![CDATA[of the trade agreement between the governments of Kenya and Amsterdam.]]>
  840. </text>
  841. </answer>
  842. <answer fraction="0">
  843. <text>
  844.  
  845. <![CDATA[customers are willing to pay more for roses that pass through Amsterdam.]]>
  846. </text>
  847. </answer>
  848. </question>
  849.  
  850. <question type="multichoice">
  851. <name>
  852. <text>Trade barriers like the Berlin Wall:</text>
  853. </name>
  854. <questiontext format="html">
  855. <text>
  856.  
  857. <![CDATA[<div>Trade barriers like the Berlin Wall:</div>]]>
  858. </text>
  859. </questiontext>
  860. <defaultgrade>1</defaultgrade>
  861. <penalty>0.1</penalty>
  862. <shuffleanswers>1</shuffleanswers>
  863. <shuffleanswers>true</shuffleanswers>
  864. <single>true</single>
  865. <answernumbering>ABCD</answernumbering>
  866. <answer fraction="0">
  867. <text>
  868.  
  869. <![CDATA[increased the number of scientists and engineers.]]>
  870. </text>
  871. </answer>
  872. <answer fraction="0">
  873. <text>
  874.  
  875. <![CDATA[added billions of minds to the global division of knowledge.]]>
  876. </text>
  877. </answer>
  878. <answer fraction="100">
  879. <text>
  880.  
  881. <![CDATA[decreased innovation and global cooperation.]]>
  882. </text>
  883. </answer>
  884. <answer fraction="0">
  885. <text>
  886.  
  887. <![CDATA[prevented restrictive monopolistic practices.]]>
  888. </text>
  889. </answer>
  890. </question>
  891.  
  892. <question type="multichoice">
  893. <name>
  894. <text>A rock carving from ancient Norway depicts two identical people doing different jobs in the same boat: one uses a bow to hunt while the other paddles. How does this early example illustrate the benefits of trade?</text>
  895. </name>
  896. <questiontext format="html">
  897. <text>
  898.  
  899. <![CDATA[<div>A rock carving from ancient Norway depicts two identical people doing different jobs in the same boat: one uses a bow to hunt while the other paddles. How does this early example illustrate the benefits of trade?</div>]]>
  900. </text>
  901. </questiontext>
  902. <defaultgrade>1</defaultgrade>
  903. <penalty>0.1</penalty>
  904. <shuffleanswers>1</shuffleanswers>
  905. <shuffleanswers>true</shuffleanswers>
  906. <single>true</single>
  907. <answernumbering>ABCD</answernumbering>
  908. <answer fraction="0">
  909. <text>
  910.  
  911. <![CDATA[One prefers to hunt while the other prefers to paddle the boat; this is an example of diverse preferences.]]>
  912. </text>
  913. </answer>
  914. <answer fraction="100">
  915. <text>
  916.  
  917. <![CDATA[One learns to be very good at paddling and one learns to be very good at hunting; this is an example of specialization and division of knowledge.]]>
  918. </text>
  919. </answer>
  920. <answer fraction="0">
  921. <text>
  922.  
  923. <![CDATA[The paddler is stronger than the hunter so the paddler sacrifices a lot by hunting; this is an example of comparative advantage.]]>
  924. </text>
  925. </answer>
  926. <answer fraction="0">
  927. <text>
  928.  
  929. <![CDATA[There is no trade in this example since no goods are being exchanged.]]>
  930. </text>
  931. </answer>
  932. </question>
  933.  
  934. <question type="multichoice">
  935. <name>
  936. <text>Fourteenth-century potters in the Chinese city of Jingdezhen developed the technology to heat a kiln at 1,300 degrees Celsius and produce porcelain, or &amp;ldquo;china,&amp;rdquo; which was particularly popular in Persia where the Koran forbade serving food on gold or silve</text>
  937. </name>
  938. <questiontext format="html">
  939. <text>
  940.  
  941. <![CDATA[<div>Fourteenth-century potters in the Chinese city of Jingdezhen developed the technology to heat a kiln at 1,300 degrees Celsius and produce porcelain, or &ldquo;china,&rdquo; which was particularly popular in Persia where the Koran forbade serving food on gold or silver and wealthy families were anxious for a legal way to impress their dinner guests. The potters also imported Persian cobalt to create the blue dye for the porcelain (local cobalt was not as bold in color). Which advantage(s) from trade is(are) illustrated in this passage?</div>]]>
  942. </text>
  943. </questiontext>
  944. <defaultgrade>1</defaultgrade>
  945. <penalty>0.1</penalty>
  946. <shuffleanswers>0</shuffleanswers>
  947. <shuffleanswers>false</shuffleanswers>
  948. <single>true</single>
  949. <answernumbering>ABCD</answernumbering>
  950. <answer fraction="0">
  951. <text>
  952.  
  953. <![CDATA[differences in preferences]]>
  954. </text>
  955. </answer>
  956. <answer fraction="0">
  957. <text>
  958.  
  959. <![CDATA[specialization]]>
  960. </text>
  961. </answer>
  962. <answer fraction="0">
  963. <text>
  964.  
  965. <![CDATA[comparative advantage]]>
  966. </text>
  967. </answer>
  968. <answer fraction="100">
  969. <text>
  970.  
  971. <![CDATA[The passage illustrates all of these advantages.]]>
  972. </text>
  973. </answer>
  974. </question>
  975.  
  976. <question type="multichoice">
  977. <name>
  978. <text>As trade becomes more widespread, specialization ______, which in turn ______ productivity.</text>
  979. </name>
  980. <questiontext format="html">
  981. <text>
  982.  
  983. <![CDATA[<div>As trade becomes more widespread, specialization ______, which in turn ______ productivity.</div>]]>
  984. </text>
  985. </questiontext>
  986. <defaultgrade>1</defaultgrade>
  987. <penalty>0.1</penalty>
  988. <shuffleanswers>1</shuffleanswers>
  989. <shuffleanswers>true</shuffleanswers>
  990. <single>true</single>
  991. <answernumbering>ABCD</answernumbering>
  992. <answer fraction="0">
  993. <text>
  994.  
  995. <![CDATA[decreases; decreases]]>
  996. </text>
  997. </answer>
  998. <answer fraction="100">
  999. <text>
  1000.  
  1001. <![CDATA[increases; increases]]>
  1002. </text>
  1003. </answer>
  1004. <answer fraction="0">
  1005. <text>
  1006.  
  1007. <![CDATA[decreases; increases]]>
  1008. </text>
  1009. </answer>
  1010. <answer fraction="0">
  1011. <text>
  1012.  
  1013. <![CDATA[increases; decreases]]>
  1014. </text>
  1015. </answer>
  1016. </question>
  1017.  
  1018. <question type="multichoice">
  1019. <name>
  1020. <text>Which of the following statements is TRUE?</text>
  1021. </name>
  1022. <questiontext format="html">
  1023. <text>
  1024.  
  1025. <![CDATA[<div>Which of the following statements is TRUE?<br />I. Compared with a modern economy, the division of knowledge is greater in a primitive economy because every family is self-sufficient: growing their own food, making their own clothes, and constructing their own shelter.<br />II. Nobody understands the entire process of producing even the simplest products, like a lead pencil, in a modern economy.<br />III. The collapse of communism and the opening of the Chinese economy to the rest of the world have increased the division of knowledge, leading to increased world output.</div>]]>
  1026. </text>
  1027. </questiontext>
  1028. <defaultgrade>1</defaultgrade>
  1029. <penalty>0.1</penalty>
  1030. <shuffleanswers>1</shuffleanswers>
  1031. <shuffleanswers>true</shuffleanswers>
  1032. <single>true</single>
  1033. <answernumbering>ABCD</answernumbering>
  1034. <answer fraction="0">
  1035. <text>
  1036.  
  1037. <![CDATA[I only]]>
  1038. </text>
  1039. </answer>
  1040. <answer fraction="0">
  1041. <text>
  1042.  
  1043. <![CDATA[III only]]>
  1044. </text>
  1045. </answer>
  1046. <answer fraction="100">
  1047. <text>
  1048.  
  1049. <![CDATA[II and III only]]>
  1050. </text>
  1051. </answer>
  1052. <answer fraction="0">
  1053. <text>
  1054.  
  1055. <![CDATA[I, II, and III]]>
  1056. </text>
  1057. </answer>
  1058. </question>
  1059.  
  1060. <question type="multichoice">
  1061. <name>
  1062. <text>Why do people specialize?</text>
  1063. </name>
  1064. <questiontext format="html">
  1065. <text>
  1066.  
  1067. <![CDATA[<div>Why do people specialize?</div>]]>
  1068. </text>
  1069. </questiontext>
  1070. <defaultgrade>1</defaultgrade>
  1071. <penalty>0.1</penalty>
  1072. <shuffleanswers>1</shuffleanswers>
  1073. <shuffleanswers>true</shuffleanswers>
  1074. <single>true</single>
  1075. <answernumbering>ABCD</answernumbering>
  1076. <answer fraction="100">
  1077. <text>
  1078.  
  1079. <![CDATA[Specialization increases productivity.]]>
  1080. </text>
  1081. </answer>
  1082. <answer fraction="0">
  1083. <text>
  1084.  
  1085. <![CDATA[Specialization decreases people's dependence on one another.]]>
  1086. </text>
  1087. </answer>
  1088. <answer fraction="0">
  1089. <text>
  1090.  
  1091. <![CDATA[People become self-sufficient when they specialize.]]>
  1092. </text>
  1093. </answer>
  1094. <answer fraction="0">
  1095. <text>
  1096.  
  1097. <![CDATA[Most people only know how to do a few tasks.]]>
  1098. </text>
  1099. </answer>
  1100. </question>
  1101.  
  1102. <question type="multichoice">
  1103. <name>
  1104. <text>Without trade, the knowledge used by an entire economy would be about the same as the knowledge had by:</text>
  1105. </name>
  1106. <questiontext format="html">
  1107. <text>
  1108.  
  1109. <![CDATA[<div>Without trade, the knowledge used by an entire economy would be about the same as the knowledge had by:</div>]]>
  1110. </text>
  1111. </questiontext>
  1112. <defaultgrade>1</defaultgrade>
  1113. <penalty>0.1</penalty>
  1114. <shuffleanswers>1</shuffleanswers>
  1115. <shuffleanswers>true</shuffleanswers>
  1116. <single>true</single>
  1117. <answernumbering>ABCD</answernumbering>
  1118. <answer fraction="0">
  1119. <text>
  1120.  
  1121. <![CDATA[all intelligent people combined.]]>
  1122. </text>
  1123. </answer>
  1124. <answer fraction="0">
  1125. <text>
  1126.  
  1127. <![CDATA[a large number of people.]]>
  1128. </text>
  1129. </answer>
  1130. <answer fraction="100">
  1131. <text>
  1132.  
  1133. <![CDATA[one person.]]>
  1134. </text>
  1135. </answer>
  1136. <answer fraction="0">
  1137. <text>
  1138.  
  1139. <![CDATA[no one.]]>
  1140. </text>
  1141. </answer>
  1142. </question>
  1143.  
  1144. <question type="multichoice">
  1145. <name>
  1146. <text>Which of the following is typically a result of the division of knowledge?</text>
  1147. </name>
  1148. <questiontext format="html">
  1149. <text>
  1150.  
  1151. <![CDATA[<div>Which of the following is typically a result of the division of knowledge?</div>]]>
  1152. </text>
  1153. </questiontext>
  1154. <defaultgrade>1</defaultgrade>
  1155. <penalty>0.1</penalty>
  1156. <shuffleanswers>1</shuffleanswers>
  1157. <shuffleanswers>true</shuffleanswers>
  1158. <single>true</single>
  1159. <answernumbering>ABCD</answernumbering>
  1160. <answer fraction="0">
  1161. <text>
  1162.  
  1163. <![CDATA[The society runs with the knowledge of a few persons.]]>
  1164. </text>
  1165. </answer>
  1166. <answer fraction="0">
  1167. <text>
  1168.  
  1169. <![CDATA[Each person has the same knowledge as everyone else.]]>
  1170. </text>
  1171. </answer>
  1172. <answer fraction="100">
  1173. <text>
  1174.  
  1175. <![CDATA[Labor productivity is higher..]]>
  1176. </text>
  1177. </answer>
  1178. <answer fraction="0">
  1179. <text>
  1180.  
  1181. <![CDATA[No one specializes in any activity.]]>
  1182. </text>
  1183. </answer>
  1184. </question>
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