Question

4. In 2008, Canada had net exports of $44.9 billion and sold $488.7 billion of goods and services abroad. Canada had
A. $44.9 billion of exports and $443.8 billion of imports.
B. $533.6 billion of exports and $488.7 billion of imports.
C. $533.6 billion of imports and $488.7 billion of exports.
D. $488.7 billion of imports and $443.8 billion of exports.
E. $443.8 billion of imports and $488.7 billion of exports.

5. Which of the following factors affects a country's exports, imports, and net exports?
(x) international trade policy
(y) consumer tastes at home and abroad
(z) prices of domestic and foreign goods
A. (x), (y) and (z)
B. (x) and (y) only
C. (x) and (z) only
D. (y) and (z) only
E. (x) only

6. Suppose the value of the goods and services that Australia purchases from the U.S. are less than the value of goods and services that the U.S. purchases from Australia. The U.S. has
A. positive net exports with Australia and a trade surplus with Australia.
B. positive net exports with Australia and a trade deficit with Australia.
C. negative net exports with Australia and a trade surplus with Australia.
D. negative net exports with Australia and a trade deficit with Australia.
E. None of the above

Answer 1

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