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Page 1
1. A main advantage of specialization results from:
a.
Economies of large-scale production
b.
The specializing country behaving as a monopoly
c.
Smaller production runs resulting in lower unit costs
d.
High wages paid to foreign workers
ANSWER:
a
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Why is Globalization Important?
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
2. A primary reason why nations conduct international trade is because:
a.
Some nations prefer to produce one thing while others produce other things
b.
Resources are not equally distributed among all trading nations
c.
Trade enhances opportunities to accumulate profits
d.
Interest rates are not identical in all trading nations
ANSWER:
b
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Globalization of Economic Activity
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
3. International trade in goods and services is sometimes used as a substitute for all of the following except:
a.
b.
c.
d.
ANSWER:
d
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
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Page 2
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Globalization of Economic Activity
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
4. If a nation has an open economy, it means that the nation:
a.
Allows private ownership of capital
b.
Has flexible exchange rates
c.
Has fixed exchange rates
d.
Conducts trade with other countries
ANSWER:
d
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States as an Open Economy
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
5. International trade forces domestic firms to become more competitive in terms of:
a.
The introduction of new products
b.
Product design and quality
c.
Product price
d.
All of the above
ANSWER:
d
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States as an Open Economy
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
6. The movement to free international trade is most likely to generate short-term unemployment in which industries?
a.
Industries in which there are neither imports nor exports
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Page 3
b.
Import-competing industries
c.
Industries that sell to domestic and foreign buyers
d.
Industries that sell to only foreign buyers
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Globalization and Competition
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
7. International trade is based on the idea that:
a.
Exports should exceed imports
b.
Imports should exceed exports
c.
Resources are more mobile internationally than are goods
d.
Resources are less mobile internationally than are goods
ANSWER:
d
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Globalization of Economic Activity
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
8. Most of the world’s population now lives in countries that are:
a.
integrated into world markets
b.
becoming integrated into world markets
c.
near poverty
d.
a and b
ANSWER:
d
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
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Page 4
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Is International Trade an Opportunity or Threat to Workers?
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
9. International trade benefits:
a.
all workers
b.
most workers
c.
many workers
d.
None of these is correct
ANSWER:
c
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Is International Trade an Opportunity or Threat to Workers?
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
10. The largest amount of trade with the United States in recent years has been conducted by:
a.
Canada
b.
Germany
c.
Chile
d.
United Kingdom
ANSWER:
a
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States as an Open Economy
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
11. Increased foreign competition tends to:
a.
Intensify inflationary pressures at home
b.
Induce falling output per worker-hour for domestic workers
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Page 5
c.
Place constraints on the wages of domestic workers
d.
Increase profits of domestic import-competing industries
ANSWER:
c
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Globalization and Competition
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
12. ____ is the ability of a firm/industry, under free and fair market conditions, to design, produce, and market goods and
services that are better and/or cheaper than those of other firms/industries.
a.
Competitiveness
b.
Protectionism
c.
Comparative advantage
d.
Absolute advantage
ANSWER:
a
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Globalization and Competition
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
13. A firm’s ____, relative to that of other firms, is generally regarded as the most important determinant of
competitiveness.
a.
Income level
b.
Tastes and preferences
c.
Governmental regulation
d.
Productivity
ANSWER:
d
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
Copyright Cengage Learning. Powered by Cognero.
Page 6
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Globalization and Competition
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
14. Free traders maintain that an open economy is advantageous in that it provides all of the following except:
a.
Increased competition for world producers
b.
A wider selection of products for consumers
c.
The utilization of the most efficient production methods
d.
Relatively high wage levels for all domestic workers
ANSWER:
d
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Why is Globalization Important?
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
15. Regarding the applicability of free trade to cigarettes, it is correct to say:
a.
the rules of free trade apply to cigarettes
b.
the rules of free trade should not apply to cigarettes
c.
a and b are the topic of current debate
d.
there are special rules applying to cigarettes world-wide
ANSWER:
c
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Does Free Trade Apply to Cigarettes?
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
16. Human rights activists contend that this organization supports governments that permit sweatshops:
a.
The International Organization for Standardization
b.
The International Monetary Fund
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Page 7
c.
The World Health Organization
d.
All of these
ANSWER:
b
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Backlash Against Globalization
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
17. For a nation to maximize its productivity in a global economy:
a.
Only imports are necessary
b.
Only exports are necessary
c.
Both imports and exports are necessary
d.
Neither imports nor exports are necessary
ANSWER:
c
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Why is Globalization Important?
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
18. Economists have generally found that economic growth rates have a close relation to:
a.
openness to trade
b.
education
c.
communications infrastructure
d.
all of these
ANSWER:
d
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
Copyright Cengage Learning. Powered by Cognero.
Page 8
TOPICS:
Why is Globalization Important?
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
19. With globalization and import competition, U.S. prices have generally:
a.
increased
b.
decreased
c.
remained stable
d.
all of these at various times
ANSWER:
b
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Why is Globalization Important?
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
20. Open economies have more:
a.
competition
b.
firm turnover
c.
new firms entering the market
d.
all of these
ANSWER:
d
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Why is Globalization Important?
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
21. The United States was less open to international trade between:
a.
1890 and 1910
b.
1930 and 1950
c.
1890 and 1950
d.
1950 and 2013
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Page 9
ANSWER:
c
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States as an Open Economy
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
22. Producing goods for export produces:
a.
jobs
b.
income
c.
tariffs
d.
a and b
ANSWER:
d
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Is International Trade an Opportunity or Threat to Workers?
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
23. A sudden shift from import tariffs to free trade may induce short-term unemployment in:
a.
Import-competing industries
b.
Industries that are only exporters
c.
Industries that sell domestically as well as export
d.
Industries that neither import nor export
ANSWER:
a
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Is International Trade an Opportunity or Threat to Workers?
KEYWORDS:
BLOOM’S: Understand
Copyright Cengage Learning. Powered by Cognero.
Page 10
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
24. As an economy opens up to international trade, domestic prices:
a.
become lower
b.
become more aligned with international prices
c.
stabilize
d.
none of the above; what will happen cannot be predicted
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Is International Trade an Opportunity or Threat to Workers?
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
25. Studies have shown that there is an inverse relationship between
a.
Local competition and regional competition
b.
Regional competition and global competition
c.
level of trade barriers and economic growth
d.
level of education and communications infrastructure
ANSWER:
c
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Why is Globalization Important?
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
26. Economic interdependence occurs through
a.
trade
b.
labor migratin
c.
capital flows
d.
all of these
ANSWER:
d
POINTS:
1
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Page 11
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Waves of Globalization
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
27. Small countries tend to have higher measures of openness than larger countries because:
a.
their productivity is higher
b.
they are more reliant on international trade
c.
they are less reliant on international trade
d.
they are more diverse
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States as an Open Economy
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
28. Following World War II, The U.S.:
a.
became less open
b.
negotiated reductions in trade barriers with other countries
c.
passed a number of protective tariffs
d.
concentrated on armament production
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States as an Open Economy
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
Copyright Cengage Learning. Powered by Cognero.
Page 12
29. A closed economy is one in which:
a.
Imports exactly equal exports, so that trade is balanced
b.
Domestic firms invest in industries overseas
c.
The home economy is isolated from foreign trade
d.
Saving exactly equals investment at full employment
ANSWER:
c
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States as an Open Economy
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
30. During the last century, the relative importance of international trade for the U.S. has:
a.
significantly increased
b.
slightly increased
c.
significantly decreased
d.
slightly decreased
ANSWER:
a
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States as an Open Economy
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
31. Which of the following is a fallacy of international trade?
a.
Trade is a zero-sum activity
b.
Exports increase employment in exporting industries
c.
Import restrictions increase employment in import-competing industries
d.
Tariffs and quotas reduce trade volume
ANSWER:
a
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
Copyright Cengage Learning. Powered by Cognero.
Page 13
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Common Fallacies of International Trade
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
32. Foreign ownership of U.S. financial assets
a.
Has decreased since the 1960’s
b.
Has increased since the 1960′s
c.
Has made the U.S. a net borrower since the late 1980’s
d.
Both a and c
ANSWER:
d
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States in an Open Economy
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
33. The first wave of globalization was brought to an end by
a.
The Great Depression
b.
The Second World War
c.
The First World War
d.
The Smoot-Hawley Act
ANSWER:
c
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Waves of Globalization
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
34. Important trading partners of the United States include Canada, Mexico, Japan, and China.
Copyright Cengage Learning. Powered by Cognero.
Page 14
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States as an Open Economy
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
35. Multilateral trade negotiations have led to
a.
Continued trade liberalization
b.
Financial liberalization
c.
Increased investment
d.
All of the above
ANSWER:
d
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Globalization of Economic Activity
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
6/22/2016 3:06 PM
DATE MODIFIED:
6/22/2016 3:06 PM
36. The United States exports a larger percentage of its gross domestic product than Japan, Germany, and Canada.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Diversity
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
The United States as an Open Economy
KEYWORDS:
BLOOM’S: Remember