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International Trade and Finance
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International Trade and Finance
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25 Questions

1. Honda buys an automobile factory in Ohio. On the U.S. balance of payments this is recorded
2. A disadvantage of a floating exchange rate is
3. One major example of economic integration in the Western Hemisphere in recent years is
4. The United States will have a trade surplus if
5. According to the theory of comparative advantage, a nation should
6. Tariffs and quotas share many of the same economic effects. Which of the following statements is false?
7. The difference between domestic price and world price is
8. If the U.S. dollar increases in value as compared to a foreign currency, it is said that the U.S. dollar
9. Consumer tastes and relative income are
10. When U.S. interests rates rise, we see I. an increase in capital investment II. foreign tastes for American goods strengthen III. a decrease in capital investments and an increase in financial investments IV. a decrease in financial investments
11. A strong dollar helps
12. Floating exchange rates are determined by
13. A strong dollar hurts
14. Which of the following is a benefit of a protective tariff on imported timber?
15. Suppose the United States has a surplus balance in the current account. Which of the following statements is true?
16. The capital account refers to
17. If foreign currency being sent to the United States exceeds the dollars being sent out, it is said that the United States has a
18. The law of comparative advantage states
19. A tariff refers to
20. "Some predictable outcomes of an import quota on foreign motorbikes for consumers and domestic producers are I. higher prices for consumers II. lower prices for consumers III. protection for domestic producers IV. an increase in domestic efficiency"
21. The sum of the current account and the capital account is known as
22. When the United States places an import quota on imported rice,
23. An increase in aggregate supply may result in
24. Which of the following best describes the capital account on a nation’s balance of payments?
25. If the U.S. dollar depreciates relative to the Chinese yuan, then

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