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 become unbalanced. Economists believe that trade generally benefits countries as a whole. U.S. imports currently exceed U.S. exports.  The phrase gains from trade describes: The benefit for two countries when they trade or make a transaction. The profit of middlemen in a trade or a transaction. Profits made by business in trade or a transaction. Consumer surplus.  A complaint that economists sometimes make against international trade is that it does not benefit large countries like the US. does not benefit consumers. weakens a nations security. changes the distribution of income 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 that compete with imports. Consumers.  Since the 1990s the World Trade Organization has refused to accept cost-benefit analyses. the North American Free Trade Agreement has allowed trade between US and China