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Brazil only exports coffee and its price is $15 It only imports crackers and its price is

 Brazil only exports coffee and its price is $15. It only imports crackers and its price is
                            $10. Brazil’s terms of trade is

a.15

b.150

c.67

d.167

e.100

83.              If a nation’s terms of trade rises from 95 to 106, then we can conclude

a.the gains from international trade are reduced

b.the ratio of export to import prices must have decreased

c.its imports have become relatively cheaper compared to its exports

d.its purchasing power is now lower than before

e.that 106 is impossible because the terms of trade cannot exceed 100

84.              Since the middle 1980s, Bolivia and many other less-developed countries have
                            experienced

a.negative terms of trade

b.constant terms of trade

c.increasing terms of trade

d.decreasing terms of trade

e.zero terms of trade

85.              Using 1995 as the base year to calculate Pago-Pago’s terms of trade, its terms of trade in
                            2001 was 95. We know then that its terms of trade in 1995 was

a.0

b.95

c.100

d.5

e.195

86.              Currently, exports make up approximately ______ of world GDP.

a.15 percent

b.03 percent

c.30 percent

d.70 percent

e.60 percent

87.              Since 1970, exports, as a percent of world GDP, have

a.decreased but remain higher than 10 percent

b.increased

c.remained about the same

d.decreased to below 10 percent

e.exceeded 100 percent

88.              A majority of the world’s exports are exported to

a.small countries

b.less-developed countries

c.poor countries

d.industrially-developed countries

e.the United States

89.              The country with the largest trade volume (exports plus imports) is

a.the United States

b.Japan

c.Germany

d.Canada

e.China

90.              The primary trading partner of the United States is

a.Japan

b.Mexico

c.Canada

d.Britain

e.Korea

Feb 11 2020 View more View Less

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