ECON 340 QUESTIONS WITH VERIFIED ANSWERS
As a share of national income, exports and imports are lowest for which of the following
countries:
A
US
B
Belgium
C
Germany
D
Mexico - Answers - A. US
If you were to try to make the case that international trade is not important for US
manufactures, which of the following facts could you use
A
Trade in manufactures is declining
B
Trade is becoming a smaller fraction of our economy
C
Trade is less important for manufactures than it is for the rest of the US economy
D
The US is less exposed to trade than most developed countries - Answers - D
The US is less exposed to trade than most developed countries
For the US, International trade as a share of national income in last 40 years has
A
Halved
B
Tripled
C
Remained same - Answers - B
Tripled
Over the past few decades, Imports for the US have
A
grown more than exports
B
grown less than exports
C
grown same as exports
D
cannot be determined - Answers - A
, grown more than exports
For the US, exports are more important in the manufacturing sector than in the
economy overall.
A
True
B
False
C
Cannot be determined - Answers - A
True
Overall, exports are a more important part of the economy of
A
high income countries
B
low income countries
C
middle income countries
D
cannot be determined - Answers - A
high income countries
Between the two World Wars, as a share of the global economy, trade
A
increased
B
decreased
C
remained consistent
D
cannot be determined - Answers - B
decreased
Agricultural products account for
A
Less than 10% of world trade
B
Over half of world trade
C
About half of world trade
D
Agricultural products are not traded - Answers - A
Less than 10% of world trade
Most products exported from North American countries are
As a share of national income, exports and imports are lowest for which of the following
countries:
A
US
B
Belgium
C
Germany
D
Mexico - Answers - A. US
If you were to try to make the case that international trade is not important for US
manufactures, which of the following facts could you use
A
Trade in manufactures is declining
B
Trade is becoming a smaller fraction of our economy
C
Trade is less important for manufactures than it is for the rest of the US economy
D
The US is less exposed to trade than most developed countries - Answers - D
The US is less exposed to trade than most developed countries
For the US, International trade as a share of national income in last 40 years has
A
Halved
B
Tripled
C
Remained same - Answers - B
Tripled
Over the past few decades, Imports for the US have
A
grown more than exports
B
grown less than exports
C
grown same as exports
D
cannot be determined - Answers - A
, grown more than exports
For the US, exports are more important in the manufacturing sector than in the
economy overall.
A
True
B
False
C
Cannot be determined - Answers - A
True
Overall, exports are a more important part of the economy of
A
high income countries
B
low income countries
C
middle income countries
D
cannot be determined - Answers - A
high income countries
Between the two World Wars, as a share of the global economy, trade
A
increased
B
decreased
C
remained consistent
D
cannot be determined - Answers - B
decreased
Agricultural products account for
A
Less than 10% of world trade
B
Over half of world trade
C
About half of world trade
D
Agricultural products are not traded - Answers - A
Less than 10% of world trade
Most products exported from North American countries are
