CHAPTER 5
The United States in the Global Economy
Multiple Choice Questions
1. The physical export of motorcycles from the United States to Mexico best illustrates a:
A) trade flow. B) resource flow. C) financial flow. D) technology flow.
2. The physical import of DVD players to the United States from Japan best illustrates a:
A) resource flow. B) financial flow. C) trade flow. D) technology flow.
3. The spending by Americans while traveling in Europe best illustrates a:
A) trade flow. B) labor flow. C) financial flow. D) technology flow.
7. The building of a production plant in China by an American firm best illustrates a(n):
A) trade flow. B) resource flow. C) financial flow. D) information flow.
11. The United States' most important trading partner in terms of dollar volume is:
A) Mexico. B) Canada. C) Germany. D) China.
12. In terms of absolute volumes of imports and exports, the world's leading trading nation is:
A) France. B) Japan. C) the United States. D) South Korea.
14. Since 1975, United States exports and imports have:
A) grown absolutely, but remained a constant proportion of GDP.
B) grown absolutely, but declined as a proportion of GDP.
C) grown both absolutely and as a percentage of GDP.
D) declined both absolutely and as a percentage of GDP.
15. In recent years the United States has:
A) exported more goods and services than it has imported.
B) imported more goods and services than it has exported.
C) realized an approximate balance in its imports and exports.
D) experienced a falling absolute dollar amount of imports and a rising absolute dollar amount of
exports.
16. Approximately half of the U.S. international trade is with:
A) the nations of Eastern Europe.
B) the developing countries of Africa, Asia, and Latin America.
C) other industrialized nations, for example, Canada, Japan, and the countries of Western Europe.
D) China.
