Question

1. Which of the following best describes the trade deficit in Goods (only) of the United...


1. Which of the following best describes the trade deficit in Goods (only) of the United States in December 2018?

a) $209.4 Billion b) $59.8 Billion c) $50.3 Billion d) $31.0 Billion

2. With how many countries does the United States currently have Free Trade Agreements?

a) 2 b) 15 c) 20 d) 48

3. According to Hufbauer, Cimino, and Moran, in recent years how many U.S. jobs were lost in importcompeting sectors and how many jobs were gained in export sectors because of NAFTA?

a) Lost 683,000 jobs per year because of imports, gained 203,000 jobs per year because of exports. b) Lost 203,000 jobs per year because of imports, gained 188,000 jobs per year because of exports. c) Lost 683,000 jobs per year because of imports, gained 741,000 jobs per year because of exports. d) Lost 40,500 jobs per year because of imports, gained 203,000 jobs per year because of exports.

4. Approximately what is the value of goods impacted by the current tariff war between the United and China?

a) $60 Billion b) $200 Billion c) $360 Billion d) $528 Billion

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

1. Option B

Explanation: As of December 2018, the exports of goods from the USA was $205.1 Billion and imports was $264.9 Billion. So, the trade deficit in goods was $264.9 Billion - $205.1 Billion = $59.8 Billion.

2. Option C

Explanation: Currently, the USA has free trade agreements with 20 countries, which are:

  • Australia
  • Bahrain
  • Canada
  • Chile
  • Colombia
  • Costa Rica
  • Dominican Republic
  • El Salvador
  • Guatemala
  • Honduras
  • Israel
  • Jordan
  • Korea
  • Mexico
  • Morocco
  • Nicaragua
  • Oman
  • Panama
  • Peru
  • Singapore
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
- A tariff is A) a tax imposed by a government on goods imported into a...
- A tariff is A) a tax imposed by a government on goods imported into a country. B) a subsidy granted to importers of a vital input. C) a limit placed on the quantity of goods that can be imported into a country. D) a health and safety restriction imposed on an imported product. - Absolute advantage is a) the ability to produce more of a good or service than competitors that have fewer resources. b) the ability to produce...
1. Which of the following describes the extent of international trade in the U.S.​ economy? A....
1. Which of the following describes the extent of international trade in the U.S.​ economy? A. Since​ 1950, U.S. imports have increased from less than 5 percent of GDP to about 30 percent in 2008. B. Since​ 1950, U.S. exports have decreased from about 11 percent of GDP to about 4 percent in 2008. C. Each​ year, the U.S. exports less than 10 percent of many agricultural crops such as rice. D. About 66 percent of U.S. manufacturing industries depend...
2. Which of the following statements is (are) correct? (x) The increase in international trade in...
2. Which of the following statements is (are) correct? (x) The increase in international trade in the United States during the past 50 years is partly due to improvements in transportation, advances in telecommunications, and an increase in the trade of goods that have a high value per pound. (y) Over the last 50 years U.S. exports and imports have increased and U.S. imports as a percentage of GDP have more than doubled but U.S. exports as a percentage of...
1. Which of the following best describes the effects of an increase in real interest rates...
1. Which of the following best describes the effects of an increase in real interest rates in Canada? a. It discourages both Canadian and foreign residents from buying Canadian assets. b. It encourages both Canadian and foreign residents to buy Canadian assets. c. It encourages Canadian residents to buy Canadian assets, but discourages foreign residents from buying Canadian assets. d. It encourages foreign residents to buy Canadian assets, but discourages Canadian residents from buying Canadian assets. ____     2.   Which of the following...
7. According to the textbook, which of the following statements is (are) correct? (x) If net...
7. According to the textbook, which of the following statements is (are) correct? (x) If net exports are zero, the country has balanced trade. (y) If a country sells $50 billion of goods and services to people overseas and buys $45 billion of goods and services from them, then it has a trade surplus. (z) If a country has $2.4 billion of net exports and purchases $4.8 billion of goods and services from foreign countries, then it has $7.2 billion...
Which of the following is most likely to indicate an economic expansion in the United States?...
Which of the following is most likely to indicate an economic expansion in the United States? a. An increase in the average number of members per household from 4 in 2012 to 6 in 2015. b. An increase in the annual average disposable income of households from $25,000 in 2014 to $35,000 in 2015. c. An increase in the value of imports this year compared to the previous year. d. An increase in the rate of unemployment in the current...
1) India has a comparative advantage in service exports for all the following reasons, except: Group...
1) India has a comparative advantage in service exports for all the following reasons, except: Group of answer choices: a) India is 12 hours ahead of Eastern Standard Time, which makes it easier to offshore some jobs. b) India has a large number people who are educated and conversant in English. c) Indians are closer to Americans for historical reasons, and therefore the two countries like to trade with each other. d) service sector jobs do not require massive infrastructure...
1.In 2001, the U.S. economy entered a recession and unemployment rose. Which one of the following...
1.In 2001, the U.S. economy entered a recession and unemployment rose. Which one of the following types of unemployment was most likely caused by the recession? a Cyclical unemployment b Full unemployment c Structural unemployment 2. Mexico can produce vine-ripened tomatoes at a lower opportunity cost than firms in the United States. Through trade negotiations, the United States lifted quotas limiting the import of tomatoes from Mexico. Some firms in Florida, in the face of this new competition, had to...
1. Which of the following is true of unemployment? A) It is defined as the number...
1. Which of the following is true of unemployment? A) It is defined as the number of people actively looking for work who do not have jobs. B) The result is that the economy operates inside its production possibilities curve. C) There are psychological consequences associated with unemployment. D) All of the above. 2. Which of the following people would be considered unemployed? A) Homer, who lost his job at the power plant and is not looking for work B)...
1) The Central Bank of Thailand has decided that universal home ownership is a worthwhile goal...
1) The Central Bank of Thailand has decided that universal home ownership is a worthwhile goal for the country. To encourage new home construction and purchase, the CBT expands the Thai money supply significantly, thus pushing down interest rates on construction loans and mortgages. Assuming that CBT is operating under a floating exchange rate system, what happens to the value of the Thai currency - i.e., bhat - and its trade balance following the expansion of Thailand’s money supply? Select...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT