Question 1

In 2009,___________ exceeded Germany in value of exports becoming the world's largest exporter.

Accepted Answer

A) China 
B) Japan 
C) Canada 
D) Germany 
A) China 
B) Japan 
C) Canada 
D) Germany A

Question 2

Net exports are

Accepted Answer

A) the smallest component of GDP. 
B) income after taxes. 
C) the largest component of GDP. 
D) included in government spending. 
A) the smallest component of GDP. 
B) income after taxes. 
C) the largest component of GDP. 
D) included in government spending. A

Question 3

We send more of our exports to _________ than any other country.

Accepted Answer

Canada

Question 4

Workers in the poor countries of the world where labor intensive products are produced earn between ________________ per day compared to United States workers earning eight to twelve dollars per hour.

Accepted Answer

The answer of Workers in the poor countries of the...

Question 5

Which statement is true?

Accepted Answer

A) Xn in the United States has been negative every year since the mid-1970s. 
B) Xn in the United States was generally positive for most years from the 1920s until 1971. 
C) Since the mid-1970s,GDP would have been higher without Xn. 
D) All of the statements are true. 
A) Xn in the United States has been negative every year since the mid-1970s. 
B) Xn in the United States was generally positive for most years from the 1920s until 1971. 
C) Since the mid-1970s,GDP would have been higher without Xn. 
D) All of the statements are true.

Question 6

The C + I + G curve lies __________ the C + I + G + Xn curve.

Accepted Answer

The answer of The C + I + G curve...

Question 7

Of the countries in the European Union,______ have adopted the euro as its currency.

Accepted Answer

The answer of Of the countries in the European Union,______...

Question 8

International trade is ________ important to the Netherlands than it is to the United States.

Accepted Answer

The answer of International trade is ________ important to the...

Question 9

Which of the following were prominent among the protesters at the WTO meetings since 1999?

Accepted Answer

A) Labor union members concerned that free trade undermined worker rights to organize. 
B) Environmentalists concerned that corporations would locate in countries that had very lax environmental standards. 
C) Human rights advocates concerned that free trade condoned sweatshop working conditions. 
D) All of the answers are true. 
A) Labor union members concerned that free trade undermined worker rights to organize. 
B) Environmentalists concerned that corporations would locate in countries that had very lax environmental standards. 
C) Human rights advocates concerned that free trade condoned sweatshop working conditions. 
D) All of the answers are true.

Question 10

The basis for international trade is ______________ and _____________.

Accepted Answer

specializa

Question 11

The basis for international trade is

Accepted Answer

A) self-sufficiency. 
B) specialization. 
C) amassing national wealth at the expense of trading partners. 
D) maximizing your exports and minimizing your imports. 
A) self-sufficiency. 
B) specialization. 
C) amassing national wealth at the expense of trading partners. 
D) maximizing your exports and minimizing your imports.

Question 12

If yesterday the dollar traded for 100 Japanese yen and today 101 yen for the dollar,we would say

Accepted Answer

A) that the dollar rose in value relative to the yen. 
B) that the yen fell in value relative to the dollar. 
C) both of the choices. 
A) that the dollar rose in value relative to the yen. 
B) that the yen fell in value relative to the dollar. 
C) both of the choices.

Question 13

The agreement between the U.S. ,the Dominican Republic and five small Central American countries that will eventually eliminate tariffs among all seven nations is called

Accepted Answer

A) NAFTA. 
B) CAFTA. 
C) Mercosur. 
D) GATT. 
A) NAFTA. 
B) CAFTA. 
C) Mercosur. 
D) GATT.

Question 14

Net exports is defined as

Accepted Answer

A) exports plus imports. 
B) exports minus imports. 
C) imports minus exports. 
D) that portion of consumption and investment goods sent to other countries. 
A) exports plus imports. 
B) exports minus imports. 
C) imports minus exports. 
D) that portion of consumption and investment goods sent to other countries.

Question 15

Our merchandise balance of trade has been negative since the

Accepted Answer

A) 1960s 
B) 1970s 
C) 1980s 
D) 1990s 
A) 1960s 
B) 1970s 
C) 1980s 
D) 1990s

Question 16

What was the most important advantage to the EU countries that adopted the EURO as their official currency?

Accepted Answer

A) Introduction of the euro increased exports to outside countries. 
B) Introduction of the euro has eased trade and commerce among the nations that adopted the euro. 
C) Introduction of the euro increased the disposal income of member countries population. 
D) The euro immediately replaced the dollar in international trade. 
A) Introduction of the euro increased exports to outside countries. 
B) Introduction of the euro has eased trade and commerce among the nations that adopted the euro. 
C) Introduction of the euro increased the disposal income of member countries population. 
D) The euro immediately replaced the dollar in international trade.

Question 17

After World World II,the United States produced about ______ percent of the world's oil,much of which we exported.

Accepted Answer

A) 40 
B) 50 
C) 60 
D) 70 
A) 40 
B) 50 
C) 60 
D) 70

Question 18

Since the formation of NAFTA,our trade deficit with Mexico has gone ___________ and our trade deficit with Canada has gone ___________.

Accepted Answer

A) up,up 
B) down,down 
C) up,down 
D) down,up 
A) up,up 
B) down,down 
C) up,down 
D) down,up

Question 19

Statement I: Germany is the world's largest exporter.
Statement II: International trade is more important to the Dutch (Netherlands)economy than it is to the U.S.economy,even though we are the world's largest exporter.

Accepted Answer

A) Statement I is true and statement II is false. 
B) Statement II is true and statement I is false. 
C) Both statements are true. 
D) Both statements are false. 
A) Statement I is true and statement II is false. 
B) Statement II is true and statement I is false. 
C) Both statements are true. 
D) Both statements are false.

Question 20

The basis for international trade is

Accepted Answer

A) self-sufficiency. 
B) that we stand to gain if we can sell more to other nations than they buy from us. 
C) maximizing your exports and minimizing your imports. 
D) None of the choices are true. 
A) self-sufficiency. 
B) that we stand to gain if we can sell more to other nations than they buy from us. 
C) maximizing your exports and minimizing your imports. 
D) None of the choices are true.

Exam 8: The Export-Import Sector

In 2009,___________ exceeded Germany in value of exports becoming the world's largest exporter.

Net exports are

We send more of our exports to _________ than any other country.

Workers in the poor countries of the world where labor intensive products are produced earn between ________________ per day compared to United States workers earning eight to twelve dollars per hour.

Which statement is true?

The C + I + G curve lies __________ the C + I + G + Xn curve.

Of the countries in the European Union,______ have adopted the euro as its currency.

International trade is ________ important to the Netherlands than it is to the United States.

Which of the following were prominent among the protesters at the WTO meetings since 1999?

The basis for international trade is ______________ and _____________.

The basis for international trade is

If yesterday the dollar traded for 100 Japanese yen and today 101 yen for the dollar,we would say

The agreement between the U.S. ,the Dominican Republic and five small Central American countries that will eventually eliminate tariffs among all seven nations is called

Net exports is defined as

Our merchandise balance of trade has been negative since the

What was the most important advantage to the EU countries that adopted the EURO as their official currency?

After World World II,the United States produced about ______ percent of the world's oil,much of which we exported.

Since the formation of NAFTA,our trade deficit with Mexico has gone ___________ and our trade deficit with Canada has gone ___________.

Statement I: Germany is the world's largest exporter. Statement II: International trade is more important to the Dutch (Netherlands)economy than it is to the U.S.economy,even though we are the world's largest exporter.

The basis for international trade is

A Brief Economic History of the United States

Resource Utilization

The Mixed Economy

Supply and Demand

The Household Consumption Sector

The Business Investment Sector

The Government Sector

Gross Domestic Product

Economic Fluctuations, unemployment, and Inflation

Classical and Keynesian Economics

Fiscal Policy and the National Debt

Money and Banking

The Federal Reserve and Monetary Policy

A Century of Economic Theory

Economic Growth and Productivity

Demand,supply,and Equilibrium

The Price Elasticities of Demand and Supply

Theory of Consumer Behavior

Cost

Profit, loss, and Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Corporate Mergers and Antitrust

Demand in the Factor Market

Labor Unions

Labor Markets and Wage Rates

Rent, interest, and Profit

Income Distribution and Poverty

International Trade

International Finance

Filters

The basis for international trade is __ and _.

Since the formation of NAFTA,our trade deficit with Mexico has gone _ and our trade deficit with Canada has gone _.