国际贸易英选择题.doc

Chapter 1: Introduction Which statement most accurately describes US trade since 1960? Imports continually exceeded exports. Exports continually exceeded imports. Exports and imports were more than 50% of GDP. Both imports and exports grew as a share of GDP. Which of the following is NOT true? As a share of their economies, small countries trade more than large countries. Imports can not exceed exports because trade will e unbalanced. Economists believe that trade generally benefits countries as a whole. . imports currently exceed . exports. The phrase "gains from trade" describes: The benefit for two countries when they trade or make a transaction. The profit of middlemen ina trade ora transaction. Profits made by business in trade ora transaction. Consumer surplus. plaint that economists sometimes make against international trade is that it does not benefit large countries like the US. does not benefit consumers. weakens a nation's security. changes the distribution of e in an unfavorable way. David Ricardo argued that trade occurs between countries because of differences in endowments of factors of production. differences in the size of their economies. differences in climate and resources. differences in labor productivity. In theory, which of the following should be most averse to international trade? Countries that are more efficient at producing than other countries. Countries that are less efficient at producing than other countries. Owners of resources that are "specifically" used in industries pete with imports. Consumers. Since the 1990s the World anization has refused to accept cost-benefit analyses. the North American Free Trade Agreement has allowed trade between US and China. trade policy has been mostly determined by conflicts between nations. an anti-globalization movement has continued to fight trade negotiations. A system of floating exchange rates has currencies whose values are fixed by governments. are fixed in terms of gold. fluctuate ac