Important Question for an International Trade

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Important questions for an International Trade

TopicQuestion numbers
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1.Trade facts1-9
2.Comparative advantage10-55
3.Supply and demand analysis of exports and imports56-79
4.Types of trade barriers80-87
5.Analysis of tariffs and quotas88-118
6.Arguments for protectionism119-125
7.World Trade Organization126-128
Consider This 129-130
Last Word131-132
True-False133-151
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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 MI: 447 MA: 357 Status: New
5.Which of the following statements is false?
A)In recent years the United States has had large annual trade deficits in goods and services. B)The United States imports some of the same categories of goods as it exports. C)The United States is the world's leading exporter in terms of absolute dollar volume. D)As a percentage of GDP, U.S. exports are the highest among the industrially advance nations. Answer: D

Type: F Topic: 1 E: 690 MI: 446 MA: 356
6.Which country has the largest share of total world exports? A)Japan B) Germany C) United States D) China
Answer: C

Type: F Topic: 1 E: 690 MI: 446 MA: 356
7.In terms of absolute volume, world trade is dominated by: A)Japan, Germany, and China.
B)the United States, England, and Canada.
C)Germany, England, and France.
D)the United States, Japan and the western European nations. Answer: D

Type: F Topic: 1 E: 690 MI: 446 MA: 356 Status: New
8.In 2002 the United States:
A)imported more services than it exported.
B)imported more goods than it exported.
C)traded mainly with developing nations such as Mexico and China. D)had a small trade surplus in goods and services.
Answer: B

Type: F Topic: 1 E: 691 MI: 447 MA: 357 Status: New
9.Which of the following countries recently joined the ranks of the world's leading trading nations by total dollar volume? A)China. B) Chile. C) Ireland. D) Belgium.
Answer: A

Comparative advantage

Type: A Topic: 2 E: 691 MI: 447 MA: 357
10.Which of the following is an example of a land-intensive commodity? A)chemicals B) autos C) watches D) wool
Answer: D
Type: A Topic: 2 E: 691 MI: 447 MA: 357
11.Which of the following is an example of a labor-intensive commodity? A)cameras B) beer C) aspirin tablets D) gasoline Answer: A...
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