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Chapter 1 An Introduction to International Trade




Question;Chapter 1 An Introduction to;International Trade;1.1;Multiple-Choice Questions;1);Countries of the world differ in terms of their;A);geographic size.;B);population size.;C);standards of living.;D);All of the above.;2);The difference between a country's Gross National Product (GNP) and its Gross;Domestic;product;(GDP) is that;A);GNP refers to production within the nation while GDP refers to production by;domestic;factors;no matter where they are located.;B);GNP is always bigger than GDP.;C);GDP refers to production within the nation while GNP refers to production by;domestic;factors;no matter where they are located.;D);Two of the above are true.;3);Per capita GNP is defined as a country's GNP divided by its;A);population.;B);labor force.;C);capitalists.;D);None of the above.;4);Which of the following statements is false?;A);Richer countries tend to be found in North America, Western Europe, and Japan.;B);Countries with large populations tend to be rich.;C);Growth of per capita GNP tends to be quite stable about 1.5-3 percent per year;in;industrialized;countries.;D);Over the past several decades, growth of per capita GNP tends to be higher on;average in;industrialized;countries than in low or middle-income countries.;5);The ratio of a country's exports to its total output (GNP or GDP);A);is known as the index of openness.;B);provides a rough measure of the importance of international trade to that;economy.;C);if calculated for the United States would be quite low.;D);All of the above..;6);Which of the following statements is false?;A);Between 1980 and 2006, the index of openness has risen for most countries.;B);Since 1950, international trade has been growing faster than the growth of;world output.;C);A country cannot be a leading world exporter without a high index of openness.;D);Two of the above are true.;7);Barriers to trade;A);include government policies such as tariffs and quotas.;B);have been falling with technological improvements in transportation and;communication.;C);have risen since World War II as many countries have imposed higher tariffs.;D);Two of the above are true.


Paper#54975 | Written in 18-Jul-2015

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