INTERNATIONAL TRADE FINAL EXAM ECON
436 2026 COMPLETE QUESTIONS WITH 100%
SOLVED SOLUTIONS
◉ what used to be called NAFTA is now called Answer: USMCA
◉ The state the U.S. exports the most to is Answer: Texas
◉ World Trade Organization (WTO) Answer: settled trade disputes
between countries
◉ the company that imports the most into the united states Answer:
walmart
◉ Gravity Model Answer: volume of trade is directly related to the
GDP of each trading partner and is inversely related to the distance
between them
◉ Top 5 trade partners for the US Answer: 1. Mexico
2. Canada
3. China
4. Japan
,5. Germany
◉ three things that influence trade Answer: culture, geography,
existence of borders
◉ True or False : The gravity model predicts that the trade between
2 countries is inversely related to the distance between them.
Answer: TRUE
◉ factors that promote trade Answer: 1. cultural similarities
2. historical connections
3. free trade agreement
4. common currency
◉ Given its GDP, Ireland's trade with the U.S. is --- other EU countries
Answer: significantly more than
◉ Non-tradable goods and services Answer: products that are not
easily tradable due to their inherent characteristics
◉ examples of non-tradable goods and services Answer: haircuts
and plumbing service
, ◉ MSMA Answer: world trade percentages
manufactured products ( 58 % )
services ( 24 % )
mineral products ( 12 % )
agriculture ( 8 % )
◉ impediments to trade Answer: 1. distance
2. barriers
3. borders
◉ 1st wave of globalization Answer: 1870 to 1914
- railroads, steamboats, telegraph
◉ 2nd Wave of Globalization Answer: 1945 to 1980:
- airplanes, fax machines, internet
◉ vertical disintegration Answer: production fragmented across
countries
◉ M C C J G Answer: Top trading partners for the US
1. Mexico
2. Canada
436 2026 COMPLETE QUESTIONS WITH 100%
SOLVED SOLUTIONS
◉ what used to be called NAFTA is now called Answer: USMCA
◉ The state the U.S. exports the most to is Answer: Texas
◉ World Trade Organization (WTO) Answer: settled trade disputes
between countries
◉ the company that imports the most into the united states Answer:
walmart
◉ Gravity Model Answer: volume of trade is directly related to the
GDP of each trading partner and is inversely related to the distance
between them
◉ Top 5 trade partners for the US Answer: 1. Mexico
2. Canada
3. China
4. Japan
,5. Germany
◉ three things that influence trade Answer: culture, geography,
existence of borders
◉ True or False : The gravity model predicts that the trade between
2 countries is inversely related to the distance between them.
Answer: TRUE
◉ factors that promote trade Answer: 1. cultural similarities
2. historical connections
3. free trade agreement
4. common currency
◉ Given its GDP, Ireland's trade with the U.S. is --- other EU countries
Answer: significantly more than
◉ Non-tradable goods and services Answer: products that are not
easily tradable due to their inherent characteristics
◉ examples of non-tradable goods and services Answer: haircuts
and plumbing service
, ◉ MSMA Answer: world trade percentages
manufactured products ( 58 % )
services ( 24 % )
mineral products ( 12 % )
agriculture ( 8 % )
◉ impediments to trade Answer: 1. distance
2. barriers
3. borders
◉ 1st wave of globalization Answer: 1870 to 1914
- railroads, steamboats, telegraph
◉ 2nd Wave of Globalization Answer: 1945 to 1980:
- airplanes, fax machines, internet
◉ vertical disintegration Answer: production fragmented across
countries
◉ M C C J G Answer: Top trading partners for the US
1. Mexico
2. Canada
