江西财经大学微观经济学试题库 chapter 7.docVIP

Microeconomics 9e (Parkin) Chapter 7 Global Markets in Action 1 How Global Markets Work 1) Which of the following is correct? A) Both imports and exports include goods and services. B) Imports includes both goods and services but exports includes only goods. C) Imports includes only goods but exports includes both goods and services. D) Both exports and imports include goods and neither includes services. Answer: A Topic: International Trade Today Skill: Conceptual AACSB: Reflective Thinking 2) Goods and services that we buy from people in other countries are called our A) balance of payments. B) exports. C) imports. D) terms of trade. Answer: C Topic: International Trade Today Skill: Recognition AACSB: Reflective Thinking 3) The goods and services that a country buys from other countries are called its A) tariffs. B) quotas. C) exports. D) imports. Answer: D Topic: International Trade Today Skill: Recognition AACSB: Reflective Thinking 4) The goods and services that a country sells to people in other countries are called its A) tariffs. B) quotas. C) exports. D) imports. Answer: C Topic: International Trade Today Skill: Recognition AACSB: Reflective Thinking 5) International trade arises from A) absolute advantage. B) comparative advantage. C) importation duties. D) the advantage of execution. Answer: B Topic: Comparative Advantage Skill: Recognition AACSB: Reflective Thinking 6) The fundamental force that drives international trade is A) absolute advantage. B) importation duties and tariffs. C) export licenses. D) comparative advantage. Answer: D Topic: Comparative Advantage Skill: Recognition AACSB: Reflective Thinking 7) The fundamental force that generates international trade is A) absolute advantage. B) comparative advantage. C) law of diminishing returns. D) law of increasing costs. Answer: B Topic: Comparative Advantage Skill: Recognition AACSB: Reflective Thinking 8) The fundamental force that drives international trade is: A