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1._______ The total value of a nation’s exports minus the
total value of its imports over some period of time
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- 1._______ The total value of a nation’s exports minus thetotal value of its imports over some period of time.2._______ The ability to produce a specific product moreefficiently than any other nation.3._______ Selling and shipping raw materials or products toother nations.4._______ The ability to produce a specific product moreefficiently than any other product.5._______ All business activities that involve exchangesacross national boundaries.6._______ The total flow of money into a country minus thetotal flow of money out of that country over thesame period of time.7._______ A tax levied on a particular foreign product entering a country.8._______ A complete halt to trading with a particular nationor in a particular product.9._______ An international barter transaction.10. _______ An internationally supported bank that providesloans to developing countries to help them grow.a. countertradeb. foreign exchange controlc. multilateral development bank (MDB)d. absolute advantagee. import…2 Kwame is the purchasing manager for an electronics firm in North Carolina. He purchases a large quantity of diodes from NXP Semiconductors in the Netherlands, a manufacturer of diodes. What kind of export or import transaction does this represent? a indirect export b direct import c indirect import d direct export41) A tariff is a tax imposed by a government on its own exports. T or F
- PRICE (Dollars per ton) 865 Domestic Demand 830 795 760 725 690 655 620 585 550 515 7 0 40 80 Domestic Supply PW 120 160 200 240 280 320 360 400 QUANTITY (Tons of oranges) If Honduras is open to international trade in oranges without any restrictions, it will import A tariff set at this level would raise $ Suppose the Honduran government wants to reduce imports to exactly 160 tons of oranges to help domestic producers. A tariff of $ will achieve this. tons of oranges. in revenue for the Honduran government. per tonHow does competition, whether domestic or foreign, harm businesses?Question 38 A foreign company might be accused of "dumping" its products in the US market if its own home market is heavily protected. O True O False
- PRICE (Dollars perton) 1225 1180 1135 1090 1045 1000 955 910 865 820 775 Domestic Demand + 0 30 Domestic Supply 60 90 120 150 180 210 QUANTITY (Tons of limes) 240 C++ P W 270 300 If Zambia is open to international trade in limes without any restrictions, it will import tons of limes.38.) What accounts for about two thirds of the value of all Russia's exports and one third of its revenue? a. oil and natural gas b. gold and uranium mining c. fishing and grain farmingPRICE (Dollars per ton) 980 Domestic Demand 930 880 830 780 730 680 630 580 530 480 0 50 Domestic Supply Pw 100 150 200 250 300 350 400 450 500 QUANTITY (Tons of oranges) If Zambia is open to international trade in oranges without any restrictions, it will import A tariff set at this level would raise $ ? Suppose the Zambian government wants to reduce imports to exactly 200 tons of oranges to help domestic producers. A tariff of $ will achieve this. tons of oranges. in revenue for the Zambian government. per ton
- 8) Suppose the United States imposes a tariff or quota on sugar imports. For each of the following, enter the letter G ifit will gain from the tariff or quota or enter the letter L if it will lose from the tariff or quota.Domestic sugar producers and their workers _______Consumers _______Industries that use sugar and their workers _______9) _______________ are goods and services produced domestically but sold to other countries. _______________ are goods and services bought domestically but produced in other countries._______________ are taxes imposed by a government on imports of a good into a country. a,Tarrifs b, exports c,quotas D,Imports 10) Which of the following are non-tariff barriers to trade?National security grounds.Health and safety requirements.Embargoes.All of the above.Price of Steel (Dollars per ton) 100 BO 70 60 50 40 Demand 0 100 X + 200 300 400 500 700 True Quantity of Steel (Tons) Supply False P Because this country exports steel, the world price is represented by P₂ + 800 900 1000 With this export subsidy, the price paid by domestic consumers is $ ton. The quantity of steel consumed by domestic consumers and the quantity of steel exported Under the export subsidy, consumer surplus is S As a result, total surplus 1 Î Suppose that a "pro-trade" government decides to subsidize the export of steel by paying $10 for each ton sold abroad. Triangle DO Polygon True or False: With the export subsidy, this country will start importing steel from abroad. per ton, and the price received by domestic producers is $ the quantity of steel produced by domestic producers 1 and producer surplus is $ Government revenue per byAd valorem is an export duty imposed by U.S. on agricultural exports. True O False