国经(选择).doc

Which statement most accurately describes US trade since 1960? ? ? Both imports and exports grew as a share of GDP. ? Exports continually exceeded imports. ? Exports and imports were more than 50% of GDP. ? Imports continually exceeded exports.  Which of the following is NOT true? ? ? U.S. imports currently exceed U.S. exports. ? Imports can not exceed exports because trade will become unbalanced. ? As a share of their economies, small countries trade more than large countries. ? Economists believe that trade generally benefits countries as a whole.  The phrase gains from trade describes: ? ? Profits made by business in trade or a transaction. ? The profit of middlemen in a trade or a transaction. ? The benefit for two countries when they trade or make a transaction. ? Consumer surplus.  A complaint that economists sometimes make against international trade is that it ? ? weakens a nations security. ? changes the distribution of income in an unfavorable way. ? does not benefit consumers. ? does not benefit large countries like the US.  David Ricardo argued that trade occurs between countries because of ? ? differences in the size of their economies. ? differences in labor productivity. ? differences in climate and resources. ? differences in endowments of factors of production.  In theory, which of the following should be most averse to international trade? ? ? Owners of resources that are specifically used in industries that compete with imports. ? Consumers. ? Countries that are less efficient at producing than other countries. ? Countries that are more efficient at producing than other countries.  Since the 1990s ? ? trade policy has been mostly determined by conflicts between nations. ? the North American Free Trade Agreement has allowed trade bet