经济学原理对应练习--31.doc

经济学原理对应练习--31.doc

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Chapter31/Open-EconomyMacroeconomics:

BasicConceptsv1317

Chapter31

Open-EconomyMacroeconomics:

BasicConcepts

MultipleChoice

1. Internationaltrade

a. raisesthestandardoflivinginalltradingcountries.

b. lowersthestandardoflivinginalltradingcountries.

c. leavesthestandardoflivingunchanged.

d. raisesthestandardoflivingforimportingcountriesandlowersitforexportingcountries.

ANS:

A PTS:

1 DIF:

1 REF:

31-1

TOP:

Internationaltrade MSC:

Definitional

2. Foreign-producedgoodsandservicesthataresolddomesticallyarecalled

a. imports.

b. exports.

c. netimports.

d. netexports.

ANS:

A PTS:

1 DIF:

1 REF:

31-1

TOP:

Imports MSC:

Definitional

3. Netexportsofacountryarethevalueof

a. goodsandservicesimportedminusthevalueofgoodsandservicesexported.

b. goodsandservicesexportedminusthevalueofgoodsandservicesimported.

c. goodsexportedminusthevalueofgoodsimported.

d. goodsimportedminusthevalueofgoodsexported.

ANS:

B PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Definitional

4. Oneyearacountryhasnegativenetexports.Thenextyearitstillhasnegativenetexportsandimportshaverisenmorethanexports.

a. itstradesurplusfell.

b. itstradesurplusrose.

c. itstradedeficitfell.

d. itstradedeficitrose

ANS:

D PTS:

1 DIF:

2 REF:

31-1

TOP:

Tradebalance MSC:

Analytical

5. Supposethatacountryimports$100millionofgoodsandservicesandexports$75millionofgoodsandservices,whatisthevalueofnetexports?

a. $175million

b. $75million

c. $25million

d. -$25million

ANS:

D PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Applicative

6. Oceaniabuys$40ofwinefromEscudiaandEscudiabuys$100ofwoolfromOceania.Supposingthisistheonlytradethatthesecountriesdo.WhatarethenetexportsofOceaniaandEscudiainthatorder?

a. $140and$140

b. $100and$40

c. $60and-$60

d. Noneoftheaboveiscorrect.

ANS:

C PTS:

1 DIF:

2 REF:

31-1

TOP:

Netexports MSC:

Analytical

7. WhenDee,aU.S.citizen,purchasesadesignerdressmadeinMilan,thepurchaseis

a. bothaU.S.andItalianimport.

b. aU.S.exportandanItalianimport.

c. aU.S.importandanItalianexport.

d. neitheranexportnoranimportforeithercountry.

ANS:

C PTS:

1 DIF:

1 REF:

31-1

TOP:

Imports|Exports MSC:

Definitional

8. JuanlivesinEcuadorandpurchasesamotorcyclemanufacturedintheUnitedStates.Themotorcycleis

a. bothaU.S.andEcuadorianexport.

b. bothaU.S.andEcuadorianimport.

c. aU.S.importandanEcuadorianexport.

d. aU.S.exportandanEcuadorianimport.

ANS:

D PTS:

1 DIF:

1 REF:

31-1

TOP:

Exports|Imports MSC:

Definitional

9. IfU.S.importstotal$100billionandU.S.exportstotal$150billion,whichofthefollowingiscorrect?

a. TheU.S.hasatradesurplusof$100billion.

b. TheU.S.hasatradesurplusof$50billion.

c. TheU.S.hasatradedeficitof$100billion.

d. TheU.S.hasatradedeficitof$50billion.

ANS:

B PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Applicative

10. ThevalueofPeru'sexportsminusthevalueofPeru'simportsiscalled

a. Peru'sforeignportfolioinvestment.

b. Peru'sforeigndirectinvestment.

c. Peru'snetexports.

d. Peru'snetimports.

ANS:

C PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Definitional

11. Sonya,acitizenofDenmark,producesbootsandshoesthatshesellstodepartmentstoresintheUnitedStates.Otherthingsthesame,thesesales

a. increaseU.S.netexportsandhavenoeffectonDanishnetexports.

b. decreaseU.S.netexportsandhavenoeffectonDanishnetexports.

c. increaseU.S.netexportsanddecreaseDanishnetexports.

d. decreaseU.S.netexportsandincreaseDanishnetexports.

ANS:

D PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Definitional

12. AfirminChinasellsjacketstoaU.S.departmentstorechain.Otherthingsthesame,thesesales

a. increasesU.S.andChinesenetexports.

b. decreaseU.S.andChinesenetexports.

c. increaseU.S.netexportsanddecreaseChinesenetexports.

d. decreasesU.S.netexportsandincreaseChinesenetexports.

ANS:

D PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Definitional

13. Ivan,aRussiancitizen,sellsseveralhundredcasesofcaviartoarestaurantchainintheUnitedStates.Byitself,thissale

a. increasesU.S.netexportsandhasnoeffectonRussiannetexports.

b. increasesU.S.netexportsanddecreasesRussiannetexports.

c. decreasesU.S.netexportsandhasnoeffectonRussiannetexports.

d. decreasesU.S.netexportsandincreasesRussiannetexports.

ANS:

D PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Definitional

14. BobtrapslobstersinMaineandsellsthemtoarestaurantinEgypt.Otherthingsthesame,thesesales

a. increaseU.S.netexportsandhasnoeffectonEgyptiannetexports.

b. increaseU.S.netexportsanddecreaseEgyptiannetexports.

c. decreaseU.S.netexportsandhavenoeffectonEgyptiannetexports.

d. decreaseU.S.netexportsandincreaseEgyptiannetexports.

ANS:

B PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Applicative

15. Supposeacountryhad$2.4billionofnetexportsandbought$4.8billionofgoodsandservicesfromforeigncountries.Thiscountrywouldhave

a. $7.2billionofexportsand$4.8billionofimports.

b. $7.2billionofimportsand$4.8billionofexports.

c. $4.8billionofexportsand$2.4billionofimports.

d. $4.8billionofimportsand$2.4billionofexports.

ANS:

A PTS:

1 DIF:

2 REF:

31-1

TOP:

Netexports MSC:

Analytical

16. Supposeacountryhadnetexportsof$8.3billionandsold$52.4billionofgoodsandservicesabroad.Thiscountryhad

a. $60.7billionofimportsand$52.4billionofimports.

b. $60.7billionofexportsand$52.4ofimports.

c. $52.4billionofimportsand$44.1billionofexports.

d. $52.4billionofexportsand$44.1billionofimports.

ANS:

D PTS:

1 DIF:

2 REF:

31-1

TOP:

Netexports MSC:

Analytical

17. Mike,aU.S.citizen,buys$1,000worthofcheesefromFrance.Hisactionalone

a. increasesU.S.importsby$1,000andincreasesU.S.netexportsby$1,000.

b. increasesU.S.importsby$1,000anddecreasesU.S.netexportsby$1,000.

c. increasesU.S.exportsby$1,000andincreasesU.S.netexportsby$1,000.

d. increasesU.S.exportsby$1,000anddecreasesU.S.netexportsby$1,000.

ANS:

B PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Applicative

18. ClearBrookFarms,aU.S.manufactureroffrozenvegetarianentrees,sellscasesoftheirproducttostoresoverseas.Itssales

a. decreaseU.S.exportsbutincreaseU.S.netexports.

b. decreasebothU.S.exportsandU.S.netexports.

c. increasebothU.S.exportsandU.S.netexports.

d. increaseU.S.exportsbutdecreaseU.S.netexports.

ANS:

C PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Applicative

19. YoubuyanewcarbuiltinSweden.Otherthingsthesame,yourpurchasebyitself

a. raisesbothU.S.exportsandU.S.netexports.

b. raisesU.S.exportsandlowersU.S.netexports.

c. raisesbothU.S.importsandU.S.netexports.

d. raisesU.S.importsandlowersU.S.netexports.

ANS:

D PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Definitional

20. AGermancompanysellscamerastoaretailerintheUnitedStates.Thesesalesbythemselves

a. havenoaffectonU.S.netexportsandincreaseGermannetexports.

b. decreaseU.S.netexportsandincreaseGermannetexports.

c. increaseU.S.andGermannetexports.

d. increaseU.S.netexportsanddecreaseGermannetexports.

ANS:

B PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Applicative

21. Acountrysellsmoretoforeigncountriesthanitbuysfromthem.Ithas

a. atradesurplusandpositivenetexports.

b. atradesurplusandnegativenetexports.

c. atradedeficitandpositivenetexports.

d. atradedeficitandnegativenetexports.

ANS:

A PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports|Tradebalance MSC:

Definitional

22. Acountry'stradebalance

a. mustbezero.

b. mustbegreaterthanzero.

c. isgreaterthanzeroonlyifexportsaregreaterthanimports.

d. isgreaterthanzeroonlyifimportsaregreaterthanexports.

ANS:

C PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports MSC:

Applicative

23. IftheUnitedStateshadnegativenetexports,it

a. soldmoreabroadthanitpurchasedabroadandhasatradesurplus.

b. soldmoreabroadthanitpurchasedabroadandhasatradedeficit.

c. boughtmoreabroadthanitsoldabroadandhadatradesurplus.

d. boughtmoreabroadthanitsoldabroadandhadatradedeficit.

ANS:

D PTS:

1 DIF:

1 REF:

31-1

TOP:

Netexports|Tradebalance MSC:

Applicative

24. Whichofthefollowingiscorrect?

a. U.S.exportsasapercentageofGDPhaveaboutdoubledoverthelast50years.TheU.S.currentlyhasatradesurplus.

b. U.S.exportsasapercentageofGDPhaveaboutdoubledoverthelast50years.TheU.S.currentlyhasatradedeficit.

c. U.S.exportsasapercentageofGDPhaveincreased,buthavenotnearlydoubledoverthelast50years.TheU.S.currentlyhasatradesurplus.

d. U.S.exportsasapercentageofGDPhaveincreased,buthavenotnearlydoubledoverthelast50years.TheU.S.currentlyhasatradedeficit.

ANS:

B PTS:

1 DIF:

1 REF:

31-1

TOP:

U.S.trade MSC:

Definitional

25. Whichofthefollowingiscorrect?

Overaboutthelastfiftyyears

a. U.S.exportsandU.S.importseachaboutdoubled.

b. U.S.exportsandU.S.importseachabouttripled.

c. U.S.exportsaboutdoubledandU.S.importsabouttripled.

d. U.S.exportsabouttripledandU.S.importsaboutdoubled.

ANS:

C PTS:

1 DIF:

1 REF:

31-1

TOP:

U.S.trade MSC:

Definitional

26. Overthepastfivedecades,theU.S.economyhasbecome

a. moreclosed.

b. moreopen.

c. lesstrade-oriented.

d. moreself-sufficient.

ANS:

B PTS:

1 DIF:

1 REF:

31-1

TOP:

U.S.trade MSC:

Definit