Macroeconomics 1. Which one of the following express terms of trade? a. Visible

ID: 2429000 • Letter: M

Question

Macroeconomics

1. Which one of the following express terms of trade?

a. Visible and invisible items of trade.

b. Prices paid for exports in relation to prices paid for imports.

c. Total paid for exports and total paid for imports.

d. Exports and Imports.

2. Which one of the following is net foreign trade?

a. Exports plus imports.

b. The value of services sold to other nations.

c. Exports minus imports plus net services.

d. Exports minus imports.

3. Which one of the following is not visible item of trade?

a. Petroleum imports.

b. Automobile exports.

c. Payments to foreign shippers.

d. Steel imports.

4. Which one of the following occurs when imports increase?

a. The balance of trade is unaffected.

b. The balance of trade decreases.

c. The balance of trade increases.

d. Gross National Product increases.

a) "B"

Terms of trade is a ration of the total price paid for exports in relation to price paid for imports.

b) "D"

Exports minus imports.

c) "C"

Payment to foreign shippers is not a visible item.

d) "C"

With increasing imports the balance of trade increase.

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.