A. Paid for all goods exported by the home country
B. Received for all goods exported by the home country
C. Received for exports and paid for imports
D. Of primary products as opposed to manufactured products
Related Mcqs:
- When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?
A. trade diversion
B. trade channeling
C. trade creation and trade diversion
D. trade creation - Given free trade, small nations tend to benefit the most from trade since they ?
A. Are more productive than their large trading partners
B. Are less productive than their large trading partners
C. Have demand preferences and income levels lower than their large trading partners
D. Realize terms of trade lying near the MRTs of their large trading partners - A number of relating prices of a group of commodities to their prices during an arbitrarily chosen based period is called ?
A. Price index
B. Price indexing
C. Price fixing
D. Price choosing - When supply exceeds demand, sellers must lower prices to stimulate sales, when demand exceeds supply, prices increase as buyers compete to buy goods. What this theory is called in economics?
A. Cost push theory
B. Supply and Demand theory
C. Fundamental theory
D. Ricardo’s theory - In certain industries Japanese employers hesitate to lay off workers Therefore they sometimes have excess supplies of goods that they cannot sell on the home market without lowering prices. To hold down losses they sell goods in overseas markets at prices well beneath those in japan This practice is best referred to as ?
A. Orderly marketing
B. trigger pricing
C. domestic content pricing
D. dumping - Real GDP is measured in __________ prices while nominal GDP is measured in _________ prices?
A. foreign; domestic
B. current year; base year
C. domestic; foreign
D. base year; current year
E. intermediate; final - If input price prices adjusted very rapidly to output prices as classical economists argue the Philips curve would be ?
A. Vertical or nearly vertical
B. upward sloping
C. downward sloping
D. horizontal or nearly horizontal - Under free trade, Canada would not realize any gains from trade with Sweden if Canada ?
A. Trades at Canada’s marginal rate of transformation
B. Trade at Sweden’s marginal rate of transformation
C. Specializes completely in the production of its export good
D. Specializes partially in the production of its exports goods - If the international terms of trade settle at a level that is between each country’s opportunity cost ?
A. There is no basis for gainful trade for either country
B. Both countries gain from trade
C. Only one country gains from trade
D. One country gain and the other country loses from trade - Which countries terms of trade improved between 1990 and 2000 ?
A. Mexico and Denmark
B. Sweden and Denmark
C. Sweden and Spain
D. Mexico and Sweden
