A. China’s trade deficit with the United States was very high
B. The United States refused to place quotas on Chinese goods
C. The United States imported more from China than it exported to China
D. China lowered tariffs on goods imported from the United States
Related Mcqs:
- The largest amount of trade with the United States in recent years has been conducted by ?
A. Canada
B. Germany
C. Mexico
D. United Kingdom - Suppose that tomatoes from Mexico face a 20 percent tariff in the United States and a 25 percent tariff in Canada. If the United States and Canada maintain free trade between each other, the these two countries belong to a ?
A. free-trade area
B. customs union
C. common market
D. monetary union - Which factor of production in the United States is most likely to be made worse off (its factor payment will decrease) because of the North American Free Trade Agreement ?
A. Capital
B. land
C. skilled labor
D. unskilled labor - Recent pressures for protectionism in the United States have been motivated by all of the following except ?
A. U.S firms shipping component production overseas
B. High profit levels for American corporations
C. Sluggish rates of productivity growth in the United States
D. High unemployment rates among America workers - Suppose the economy is initially in long-run equilibrium Then suppose there is an increase in military spending due to rising international tensions According to the model of aggregate demand and aggregate supply what happens to prices and output in the long run ?
A. Output falls; prices are unchanged from the initial value
B. Price fall; output is unchanged from its initial value
C. Output and the price level are unchanged from their initial values
D. Prices rise; output is unchanged from its initial value - Suppose the economy is initially in long-run equilibrium Then suppose there is an increase in military spending due to rising international tensions According to the model of aggregate demand and aggregate supply what happens to prices and output in the short run ?
A. Price fall; output rises
B. Price fall; output falls
C. Price rise; output fall
D. Price rise; output rise - To maintain its economic position, Japan has often limited the number of cars or the quantity of farm products that the United States can sell in Japan Japan has imposed these limits to develop ?
A. an equality of trade position
B. a favorable balance of trade
C. a more open market
D. a belief system - Which situation has contributed most recent Japanese economic growth ?
A. The Japanese government has place limits on Japanese exports
B. Japanese industries spend very little on the research and development of new products
C. The Japanese government and Japanese businesses have cooperated with each other
D. Japanese citizens save less of their incomes than the citizens of other industrialized nation do - Following World War II the United States and other countries sought to liberalize trade among each other the first major postwar step toward trade liberalization was the ?
A. General Agreement on Tariffs and Trade
B. World Trade Organization
C. Smoot Hawley Organization
D. McKinley Agreement on Trade policy - Major trading partners of the United States including all of the following countries except ?
A. Canada
B. Mexico
C. China
D. North Korea
