When demand for a particular country’s currency increases, we know that the price of purchasing that currency will increase. 

In the first video, risks associated with offshoring were discussed. These risks included: (check all that apply)

Sometimes offshoring is bad because firms find that the skill set of foreign workers is not as good as at home. 

Each year, there will be 5 nations that make decisions on behalf of the rest of the WTO members. This panel of 5 nations has full decision-making authority. 

Countries with abundant natural resources are going to be more prosperous than countries without natural resources. It is hard to be prosperous without them. 

The lecture included the viewing of short videos of cases that individual nations were making to the WTO. Which was NOT one of these examples? 

At the time of the video, we learned that the city: 

The following table indicates output per day for Thailand and India: rice    wheat India  10 15 Thailand 20 45   Based on the scenario above, does anyone have an absolute advantage in wheat? 

Venezuela is a producer of heavy crude which is more expensive to produce than light crude. 

All of the following are examples of natural resources: trees, lumber used in houses, petroleum, and gasoline.