经济学原理对应练习 的 31.docVIP

Chapter 31 Open-Economy Macroeconomics: Basic Concepts Multiple Choice 1. International trade a. raises the standard of living in all trading countries. b. lowers the standard of living in all trading countries. c. leaves the standard of living unchanged. d. raises the standard of living for importing countries and lowers it for exporting countries. ANS: A PTS: 1 DIF: 1 REF: 31-1 TOP: International trade MSC: Definitional 2. Foreign-produced goods and services that are sold domestically are called a. imports. b. exports. c. net imports. d. net exports. ANS: A PTS: 1 DIF: 1 REF: 31-1 TOP: Imports MSC: Definitional 3. Net exports of a country are the value of a. goods and services imported minus the value of goods and services exported. b. goods and services exported minus the value of goods and services imported. c. goods exported minus the value of goods imported. d. goods imported minus the value of goods exported. ANS: B PTS: 1 DIF: 1 REF: 31-1 TOP: Net exports MSC: Definitional 4. One year a country has negative net exports. The next year it still has negative net exports and imports have risen more than exports. a. its trade surplus fell. b. its trade surplus rose. c. its trade deficit fell. d. its trade deficit rose ANS: D PTS: 1 DIF: 2 REF: 31-1 TOP: Trade balance MSC: Analytical 5. Suppose that a country imports $100 million of goods and services and exports $75 million of goods and services, what is the value of net exports? a. $175 million b. $75 million c. $25 million d. -$25 million ANS: D PTS: 1 DIF: 1 REF: 31-1 TOP: Net exports MSC: Applicative 6. Oceania buys $40 of wine from Escudia and Escudia buys $100 of wool from Oceania. Supposing this is the only trade that these countries do. What are the net exports of Oceania and Escudia in that order? a. $140 and $140 b. $100 and $40 c. $60 and -$60 d. None of the above is correct. ANS: C PTS: 1 DIF: 2 REF: 31-1 TOP: Net exports MSC: Analytical 7. When Dee, a U.S. citizen, purchases a designer dress