Question 1

Statement I: The euro has largely replaced the dollar in international trade.
Statement II: Every European nation except Russia and Yugoslavia are members of the European Union.

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.E) B) and C)
F) None of the above

Question 2

Before the ________ the American export-import sector was relatively small.

Accepted Answer

A)  1920s
B)  1960s
C)  1970s
D)  1990sE) A) and D)
F) B) and C)

Question 3

With regard to dependence on international trade,for most of its history the United States has been ____________.

Accepted Answer

The answer of With regard to dependence on international trade,for...

Question 4

Which is the most accurate statement?

Accepted Answer

A)  Because the American economy is much larger than any other country,we can continue running larger and larger trade deficits for as long as we like.
B)  Most of the protesters at WTO meetings oppose strict environmental standards.
C)  Since the passage of NAFTA our trade deficits with Mexico and Canada have increased.
D)  Most economists would describe themselves as being against free trade.E) A) and D)
F) B) and C)

Question 5

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

Accepted Answer

The answer of The 2009 our imports and exports added...

Question 6

The relatively small export-import sector in the United States began to grow significantly

Accepted Answer

A)  after 1900.
B)  in the 1920s.
C)  in the 1950s.
D)  in the 1970s.
E)  in the 1980s.F) A) and B)
G) A) and C)

Question 7

Net exports is a positive number whenever

Accepted Answer

A)  a nation's exports of goods and services exceed its imports.
B)  a nation's imports of goods and services exceed its exports.
C)  the nation's gross investment is positive.
D)  the nation's gross savings rate is positive.E) B) and D)
F) None of the above

Question 8

The European Common Market was renamed the _____________________.

Accepted Answer

The answer of The European Common Market was renamed the...

Question 9

Statement I: Until the mid-1970s,U.S.exports and imports were less than 1 percent of our domestic output.
Statement II: America was called the "arsenal of democracy" because of the vast quantity of armaments we sent to our allies during World War II.

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.E) A) and B)
F) A) and C)

Question 10

Statement I: In 2009 the United States had a negative merchandise balance of trade over $708 billion.
Statement II: In 2009 the United States had a positive services balance of trade over $118 billion.

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.E) A) and D)
F) All of the above

Question 11

Between 1993 and 2009,the trade deficit with Mexico has increased by $___________ billion,while the trade deficit with Canada has increased by $_________ billion.

Accepted Answer

The answer of Between 1993 and 2009,the trade deficit with...

Question 12

If total imports exceed total exports,other things being constant,then

Accepted Answer

A)  net exports are negative.
B)  net exports are positive.
C)  GDP rises.
D)  investment rises.E) A) and B)
F) A) and C)

Question 13

Net exports is a negative figure when

Accepted Answer

A)  a nation's exports of goods and services exceed its imports
B)  depreciation exceeds gross private domestic investment
C)  the economy's stock of capital is declining
D)  a nation's imports of goods and services exceed its exportsE) B) and D)
F) B) and C)

Question 14

The world's leading exporting nation is ______________;the nation with the largest trade deficit is ______________.

Accepted Answer

China,the ...

Question 15

The population and GDP of the European Union is ___________ that of the United States.

Accepted Answer

A)  much less than
B)  comparable to
C)  much greater thanD) All of the above
E) B) and C)

Question 16

Until 2004,the largest exporter in the world was?

Accepted Answer

A)  Japan
B)  Germany
C)  United States
D)  ChinaE) None of the above
F) All of the above

Question 17

In the last 30 years,the U.S.has become much more __________ on international trade.

Accepted Answer

The answer of In the last 30 years,the U.S.has become...

Question 18

Statement I: The United States has a much more self-sufficient economy than those of Western Europe.
Statement II: The European Union,as a free trade association,can trace its origins back to the 1950s.

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.E) All of the above
F) B) and C)

Question 19

Net exports are negative when

Accepted Answer

A)  a nation's imports of goods exceeds its exports.
B)  a nation's imports of services exceeds its exports.
C)  a nation's exports of goods and services exceeds its imports.
D)  a nation's imports of goods and services exceeds its exports.E) All of the above
F) A) and C)

Question 20

Because of the ________________________,the United States and Europe are guilty of selling agricultural products at below cost or dumping the products on the market.

Accepted Answer

agricultur...

Exam 8: The Export-Import Sector

Net exports are negative when

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The European Common Market was renamed the _____________________.

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With regard to dependence on international trade,for most of its history the United States has been ____________.

Correct AnswerverifiedShow Answer

Statement I: The United States has a much more self-sufficient economy than those of Western Europe. Statement II: The European Union,as a free trade association,can trace its origins back to the 1950s.

Correct AnswerverifiedShow Answer

Because of the ________________________,the United States and Europe are guilty of selling agricultural products at below cost or dumping the products on the market.

Correct Answerverifiedagricultur...View AnswerShow Answer

Statement I: In 2009 the United States had a negative merchandise balance of trade over $708 billion. Statement II: In 2009 the United States had a positive services balance of trade over $118 billion.

Correct AnswerverifiedShow Answer

Net exports is a negative figure when

Correct AnswerverifiedShow Answer

The population and GDP of the European Union is ___________ that of the United States.

Correct AnswerverifiedShow Answer

Net exports is a positive number whenever

Correct AnswerverifiedShow Answer

Statement I: Until the mid-1970s,U.S.exports and imports were less than 1 percent of our domestic output. Statement II: America was called the "arsenal of democracy" because of the vast quantity of armaments we sent to our allies during World War II.

Correct AnswerverifiedShow Answer

The world's leading exporting nation is ______________;the nation with the largest trade deficit is ______________.

Correct AnswerverifiedChina,the ...View AnswerShow Answer

Which is the most accurate statement?

Correct AnswerverifiedShow Answer

In the last 30 years,the U.S.has become much more __________ on international trade.

Correct AnswerverifiedShow Answer

Before the ________ the American export-import sector was relatively small.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Statement I: The euro has largely replaced the dollar in international trade. Statement II: Every European nation except Russia and Yugoslavia are members of the European Union.

Correct AnswerverifiedShow Answer

The relatively small export-import sector in the United States began to grow significantly

Correct AnswerverifiedShow Answer

If total imports exceed total exports,other things being constant,then

Correct AnswerverifiedShow Answer

Between 1993 and 2009,the trade deficit with Mexico has increased by $___________ billion,while the trade deficit with Canada has increased by $_________ billion.

Correct AnswerverifiedShow Answer

Until 2004,the largest exporter in the world was?

Correct AnswerverifiedShow Answer

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agricultur...
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The world's leading exporting nation is ;the nation with the largest trade deficit is .

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China,the ...
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Between 1993 and 2009,the trade deficit with Mexico has increased by $___ billion,while the trade deficit with Canada has increased by $_ billion.

Correct Answer
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