Question 1

Whats defention of terms:
-imports

Accepted Answer

The answer of Whats defention of terms:
-imports...

Question 2

How does the level of imports change over the business cycle?

Accepted Answer

A)   imports tend to fall during expansions and rise during contractions.
B)   imports tend to rise during expansions and fall during contractions.
C)   remain fairly constant over the business cycle.
D)   imports tend to fall during expansions and remain flat during a contraction.E) B) and D)
F) A) and B)

Question 3

Describe why the trade deficit rises further in economic expansions but declines in ?contractions.
-Describe why the trade deficit rises further in economic expansions but declines in contractions.

Accepted Answer

The answer of Describe why the trade deficit rises further...

Question 4

A US trade surplus means that

Accepted Answer

A)   more money is flowing into the US than flowing out.
B)   more money is flowing out of the US than flowing in.
C)   no money flows into the US at all.
D)   no money flows out of the US at all.E) A) and B)
F) A) and C)

Question 5

Whats defention of terms:
-exports

Accepted Answer

The answer of Whats defention of terms:
-exports...

Question 6

Explain the relationship of positive or negative net exports and aggregate demand.
-How does the usual pattern of American trade over the cycle tend to reduce demand for American products?

Accepted Answer

The answer of Explain the relationship of positive or negative...

Question 7

Holding everything else constant, if exports are greater than imports
a. there is a net inflow of money from foreign countries.
b. there is a net outflow of money to foreign countries.
c. there is a net inflow of goods from foreign countries.
d. there is a trade deficit.

Accepted Answer

Holding everything else constant, if exports are greater than imports, the correct answer is:

a. there is a net inflow of money from foreign countries.

When a country's exports exceed its imports, it means that the country is selling more goods and services to other countries than it is buying from them. As a result, money from foreign economies flows into the exporting country in exchange for the exported goods and services. This situation is known as a trade surplus, which is the opposite of a trade deficit (where imports exceed exports). The net inflow of money can increase the exporting country's foreign exchange reserves and strengthen its balance of payments position.

Question 8

Explain the relationship of positive or negative net exports and aggregate demand.
-How does a trade surplus affect aggregate expenditures? Explain. How does a trade deficit affect aggregate expenditures? Explain.

Accepted Answer

The answer of Explain the relationship of positive or negative...

Question 9

For the past 30 years or so, the United States has

Accepted Answer

A)   imported more goods and services than it exported.
B)   exported more goods and services than it imported.
C)   exported and imported approximately the same amount of goods and services.
D)   imported more than exports only during recessions.E) B) and C)
F) C) and D)

Question 10

What happens to the demand and price of imported raw materials over the business cycle?

Accepted Answer

A)   at the beginning of an expansion, there is low demand and low prices.
B)   at the beginning of an expansion, there is high demand and high prices.
C)   at the beginning of an expansion, there is low demand and high prices.
D)   at the beginning of an expansion, there is high demand and low prices.E) B) and C)
F) A) and D)

Question 11

A US trade deficit means that

Accepted Answer

A)   more money is flowing into the US than flowing out.
B)   more money is flowing out of the US than flowing in.
C)   no money flows into the US at all.
D)   no money flows out of the US at all.E) A) and C)
F) A) and D)

Question 12

Whats defention of terms:
-net exports

Accepted Answer

The answer of Whats defention of terms:
-net exports...

Question 13

A US trade deficit means that

Accepted Answer

A)   American firms have a declining inventory of unsold goods.
B)   the US economy is importing more goods and services than it exports.
C)   the US economy is exporting more goods and services than it imports.
D)   The US government has collected more in tax revenues than it is currently spending.E) A) and B)
F) C) and D)

Question 14

A US trade surplus means that

Accepted Answer

A)   American firms have a growing inventory of unsold goods.
B)   the US economy is importing more goods and services than it exports.
C)   the US economy is exporting more goods and services than it imports.
D)   The US government has collected more in tax revenues than it is currently spending.E) All of the above
F) None of the above

Question 15

Whats defention of terms:
-trade surplus

Accepted Answer

The answer of Whats defention of terms:
-trade surplus...

Question 16

The main determinant of US exports

Accepted Answer

A)   is the level of aggregate demand in the US
B)   is the level of aggregate demand in other countries.
C)   is the level of imports.
D)   is the level of US consumer spending.E) All of the above
F) B) and D) B

Question 17

Describe why the trade deficit rises further in economic expansions but declines in ?contractions.
-How does the high price of raw materials in an expansion hurt the American economy?

Accepted Answer

The answer of Describe why the trade deficit rises further...

Question 18

What are net exports?

Accepted Answer

A)   exports after all taxes have been paid.
B)   exports minus imports.
C)   exports plus imports.
D)   exports before payment of taxes.E) A) and B)
F) A) and C)

Question 19

Whats defention of terms:
-trade deficit

Accepted Answer

when imports exceed exports

Exam 52: Exports and Imports

Whats defention of terms: -imports

Correct Answer
verified

How does the level of imports change over the business cycle?

Correct Answer
verified

Describe why the trade deficit rises further in economic expansions but declines in ?contractions. -Describe why the trade deficit rises further in economic expansions but declines in contractions.

Correct Answer
verified

A US trade surplus means that

Correct Answer
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Whats defention of terms: -exports

Correct Answer
verified

Explain the relationship of positive or negative net exports and aggregate demand. -How does the usual pattern of American trade over the cycle tend to reduce demand for American products?

Correct Answer
verified

Holding everything else constant, if exports are greater than imports a. there is a net inflow of money from foreign countries. b. there is a net outflow of money to foreign countries. c. there is a net inflow of goods from foreign countries. d. there is a trade deficit.

Explain the relationship of positive or negative net exports and aggregate demand. -How does a trade surplus affect aggregate expenditures? Explain. How does a trade deficit affect aggregate expenditures? Explain.

Correct Answer
verified

For the past 30 years or so, the United States has

Correct Answer
verified

What happens to the demand and price of imported raw materials over the business cycle?

Correct Answer
verified

A US trade deficit means that

Correct Answer
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Whats defention of terms: -net exports

Correct Answer
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A US trade deficit means that

Correct Answer
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A US trade surplus means that

Correct Answer
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Whats defention of terms: -trade surplus

Correct Answer
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The main determinant of US exports

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B

Describe why the trade deficit rises further in economic expansions but declines in ?contractions. -How does the high price of raw materials in an expansion hurt the American economy?

Correct Answer
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What are net exports?

Correct Answer
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Whats defention of terms: -trade deficit

Correct Answer
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when imports exceed exports

Exam 52: Exports and Imports

Whats defention of terms: -imports

Correct AnswerverifiedShow Answer

How does the level of imports change over the business cycle?

Correct AnswerverifiedShow Answer

Describe why the trade deficit rises further in economic expansions but declines in ?contractions. -Describe why the trade deficit rises further in economic expansions but declines in contractions.

Correct AnswerverifiedShow Answer

A US trade surplus means that

Correct AnswerverifiedShow Answer

Whats defention of terms: -exports

Correct AnswerverifiedShow Answer

Explain the relationship of positive or negative net exports and aggregate demand. -How does the usual pattern of American trade over the cycle tend to reduce demand for American products?

Correct AnswerverifiedShow Answer

Holding everything else constant, if exports are greater than imports a. there is a net inflow of money from foreign countries. b. there is a net outflow of money to foreign countries. c. there is a net inflow of goods from foreign countries. d. there is a trade deficit.

Explain the relationship of positive or negative net exports and aggregate demand. -How does a trade surplus affect aggregate expenditures? Explain. How does a trade deficit affect aggregate expenditures? Explain.

Correct AnswerverifiedShow Answer

For the past 30 years or so, the United States has

Correct AnswerverifiedShow Answer

What happens to the demand and price of imported raw materials over the business cycle?

Correct AnswerverifiedShow Answer

A US trade deficit means that

Correct AnswerverifiedShow Answer

Whats defention of terms: -net exports

Correct AnswerverifiedShow Answer

A US trade deficit means that

Correct AnswerverifiedShow Answer

A US trade surplus means that

Correct AnswerverifiedShow Answer

Whats defention of terms: -trade surplus

Correct AnswerverifiedShow Answer

The main determinant of US exports

Correct AnswerverifiedB

Describe why the trade deficit rises further in economic expansions but declines in ?contractions. -How does the high price of raw materials in an expansion hurt the American economy?

Correct AnswerverifiedShow Answer

What are net exports?

Correct AnswerverifiedShow Answer

Whats defention of terms: -trade deficit

Correct Answerverifiedwhen imports exceed exports

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B

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when imports exceed exports