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Chapter 1 An Introduction to International Trade




Question;8);Which of the following is true?;A);Much of the trade of the European Union (EU) countries is with EU countries.;B);Industrialized countries tend to trade relatively little and largely with;developing countries.;C);Developing countries in Africa and South America tend to trade the most and;largely with;themselves.;D);All of the above are true.;9);The leading trading partner of the United States is;A);Canada.;B);Japan.;C);Germany.;D);Mexico.;10);Which of the following statements is true?;A);Countries tend to trade extensively with their neighbors.;B);The United States is an important trading partner for many countries.;C);The largest amount of international trade occurs between industrialized;countries.;D);All of the above are true.;11);The most commonly traded product (by value) in recent years has been;A);automobiles.;B);wheat.;C);televisions, stereos, and VCRs.;D);steel.;12);The United States tends to export;A);only a narrow range of products such as wheat.;B);a wide set of products, primarily manufactured goods.;C);very little.;D);None of the above.;13);Japanese exports are heavily concentrated in;A);agricultural products such as rice.;B);natural resource products such as coal.;C);manufactured products including motor vehicles.;D);Both A and C.;14);The types of goods Japan exports and imports appear to be well explained by;A);Japanese endowments of factors of production (e.g. land, labor, capital;natural resources).;B);high and rising Japanese tariffs.;C);advertising and other sales promotion efforts.;D);All of the above.


Paper#54976 | Written in 18-Jul-2015

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