Question Question 1. Question : (TCO 8) The United States’ most important trading partner quantitatively is

05 Jun Question Question 1. Question : (TCO 8) The United States’ most important trading partner quantitatively is

Question
Question 1. Question :

(TCO 8) The United States’ most important trading partner quantitatively is

China.

Canada.

Mexico.

Japan.

Question 2. Question :

(TCO 8) The organization created to oversee the provisions of multilateral trade agreements, resolve disputes under the international trade rules, and meet periodically to consider further trade liberalization is called the

International Monetary Fund (IMF).

World Trade Organization (WTO).

Common Market Organization (CMO).

International Trade Commission (ITC).

Question 3. Question :

(TCO 9) The current account in a nation’s balance of payments includes

its goods exports and imports, and its services exports and imports.

foreign purchases of domestic assets.

purchases of foreign assets.

All of these

: Chapter 38

Points Received: 1 of 1

Comments:

Question 4. Question :

(TCO 9) If the exchange rate between the U.S. dollar and the Japanese yen is $1 = 200 yen, then the dollar price of the yen is

$.005.

$.05.

$.50.

$5.

: Chapter 38

Points Received: 1 of 1

Comments:

Question 5. Question :

(TCO 9) In terms of individual nations, the largest U.S. trade deficit is with

Japan.

Mexico.

China.

Canada.

: Chapter 38

Points Received: 1 of 1

Comments:

Question 6. Question :

(TCO 9) When the U.S. dollar decreases in value relative to foreign currencies the:

Demand for U.S. exports will decrease

Supply of U.S. exports will decrease

Demand for U.S. exports will increase

Supply of U.S. exports will remain constant

: Chapter 38

Points Received: 1 of 1

Comments:

Question 7. Question :

(TCO 8) The primary gain from international trade is

increased employment in the domestic-export sector.

more goods than would be attainable through domestic production alone.

tariff revenue.