Important Question for an International Trade

Important questions for an International Trade

Topic Question numbers
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1. Trade facts 1-9
2. Comparative advantage 10-55
3. Supply and demand analysis of exports and imports 56-79
4. Types of trade barriers 80-87
5. Analysis of tariffs and quotas 88-118
6. Arguments for protectionism 119-125
7. World Trade Organization 126-128 Consider This 129-130 Last Word 131-132 True-False 133-151
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Multiple Choice Questions

Trade facts

Type: F Topic: 1 E: 690 MI: 446 MA: 356 1. United States exports of goods and services are about: A) 20 percent of U.S. GDP. C) 28 percent of U.S. GDP. B) 4 percent of U.S. GDP. D) 11 percent of U.S. GDP.
Answer: D

Type: F Topic: 1 E: 690 MI: 446 MA: 356 2. Since 1975 U.S. exports and imports have: A) declined as a percentage of U.S. GDP. B) more than doubled as a percentage of U.S. GDP. C) more than tripled as a percentage of U.S. GDP. D) remained virtually constant as a percentage of U.S. GDP.
Answer: B

Type: F Topic: 1 E: 690 MI: 446 MA: 356 3. In recent years the United States has: A) exported more services abroad than it has imported. B) had a small goods trade surplus with Japan. C) had a large goods trade surplus with the rest of the world. D) fallen to third behind Japan and Germany in the list of leading export nations (absolute volume basis).
Answer: A

Type: F Topic: 1 E: 691 MI: 447 MA: 357 Status: New 4. As a percentage of GDP, U.S. exports are: A) greater than U.S. imports. B) about 20 percent. C) considerably lower than in several other industrially advanced nations. D) higher than in Canada but lower than Mexico.
Answer: C

Type: F Topic: 1 E: 691