25. trade balances on goods and services includes which of the following: export

Question

25. trade balances on goods and services includes which of the following:

exports of goods, net unilateral transfers, imports of services, official transactions, capital inflows, imports of goods, exports of services, capital outflows

24. for the US, support the value of exported goods is greater than the value of imported goods. this implies:

a.the domestic currency will deprecite

b.the ccountry is running a surplus in its balance of trade

c.the country is running a deficit in its balance of trade

d.the dollar price of foreign currency will increase

22. the major factor affecting a nation's balance of payments is:

a. an increase in its rate of unemployment

b.its stock market movements

c.its rate of inflation relative to the rate of infltion of its trding partners

d.a change in the producctivity of its labor

18. one way that tariffs differ from quotas is that:

a. tarrifs are applied only on raw materials

b.tarrifs produce no revenues but set limits on the imported items

c.tariffs produce revenues for the importing country's government

d.quotas produce revenues for the exporting country's government

12. consider a world of 2 countries producing nly wheat and cloth. in one hour, residents of country A can produce 1 unit of wheat and .5 units of cloth, whereas residents of country B can produce .3 units of wheat and .4 of cloth. Country A should export:

a.cloth and country B should export wheat

b.nothing and country B should export both wheat and cloth

c.wheat, country B should export cloth

d.wheat and cloth, country B should not export anything

Explanation / Answer

25.
Trade balance on goods and services include: Export of goods, imports of services, import of goods, exports of services
24.
If value of exports are more than imports, this implies that the b. country is running a surplus in its balance of trade.
22. an increase in rate of unemployment, as workforce or unemployment rate affects the bop
18. tariffs produce revenue for importing country's govt. as tariffs are tax on imports.
12.
d. wheat and cloth, country B should not export anything

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