Exam 8: The Export-Import Sector

Statement I: Our trade deficit is higher than it was five years ago. Statement II: Until the mid-1970s,our imports and exports were each less than 10 percent of our domestic goods output.

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

If the exchange rate between the euro and the U.S.dollar is 0.85 and you eat a meal in Paris that cost 40 euros,the meal cost _________ U.S.dollars.

The name of the currency now being used throughout the European Monetary Union is the _________.

If U.S.imports of goods and services exceed exports

Which of the following groups would like to see a rise in the value of the dollar vs.the euro?

The practice of selling a good abroad below cost is known as ____________.

Statement I: There have been a series of demonstrations,beginning in Seattle in 1999,in favor of the policies of the WTO and the IMF. Statement II: Globalization has helped almost everyone and hurt almost no one.

The 2009 our imports and exports added together are __________ percent of GDP.

The most potent argument against globalization is that ___________________________.

Which is the most accurate statement?

The World Trade Organization has about ________ members.

We import more goods and services from ___________ than from any other country.

The most important economic concept to consider when deciding whether to build your own deck or hire it done is

Since the end of World War II in 1945,the world has experienced an accelerating movement toward

The trading bloc that has eliminated all internal tariffs is

Statement I: College sweatshirts are usually made in sweatshop factories in low-wage countries. Statement II: Critics of the IMF argue that it champions market supremacy with ideological fervor.

Specialization and exchange

The world's largest exporter is

Statement I: The WTO regulates world trade. Statement II: The basis for international trade is that all nations stand to gain through specialization and exchange with other nations.