Question

1.Choose the right definition of export A) Product sold from one country to another B) Product...

1.Choose the right definition of export

A) Product sold from one country to another

B) Product bought by one country from another

2.Choose the right definition of trade deficit

A) Export more than import

B) Import more than export

3.Choose the right formula for computing the trade/GDP Ratio

A)[1/2(Imports + Exports)] / GDP

B)[Imports + Exports] / GDP

C)Exports / GDP

D)Imports / GDP

4."when a firm from an industrial country owns a plant in a developing country" is a description for what kind of FDI?

A)Horizontal FDI

B)Vertical FDI

C)Reverse-vertical FDI

5.If the unit price of computers is 1000$, the unit price of shoes if 125$, what's the relative price of computers in terms of shoes?

A)8

B)0.125

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Homework Answers

Answer #1

1. When product produced in a country is sold to another country, it is called export. When a country purchase product produced in another country, it is called import.

A) Product sold from one country to another.

2. A trade deficit occurs when the value of a country’ import is greater than the value of its export.

B) Import more than export.

3. The trade /GDP ratio is calculated by the formula: Export + import of goods and services/GDP.

B) [Imports+ Exports]/GDP.

4. A firm may invest in a developing country in order to produce goods or its components and brings the goods or components back to the home country, it is referred to as Reverse vertical FDI.

C) Reverse-vertical FDI.

5. The relative price of computer in terms of shoes is how much shoes can be obtained by a computer. It is 1000$/125$=8.

A) 8.

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