Name: SSN: Economics 243-01 Quiz 1 September 14, 2000 Multiple choice questions. Circle the best alternative to complete the statement or answers the question. 1. The two countries that account for the majority of U.S. current account deficits in recent years are: a. Japan, Germany b. Japan, Canada c. Japan, China d. Mexico, Canada 2. Interdependency between countries is measured by a . G D P b . e x p o r t s + i m p o r t s c. ratio of exports to imports d. ratio of exports to GDP 3. The fasting growing component of international trade in recent years has been a. merchandise b. service c. asset d. goods and services 4. Generally speaking, statistics on the trade pattern indicate that the largest volume of trade occurs a. with the U.S. b. with Europe c. within the same region d. with Japan 5. The purchase of a German short-term bond by a U.S. resident is a transaction recorded initially in a. category I, current account b. category II, capital account c. category III, capital account
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