Midterm_Practice_Ch2

Midterm_Practice_Ch2 - World TradeAn Overview Multiple...

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World Trade—An Overview Multiple Choice Questions 1. The gravity model offers a logical explanation for the fact that (a) Trade between Asia and the U.S. has grown faster than NAFTA trade. (b) Trade in services has grown faster than trade in goods. (c) Trade in manufactures has grown faster than in agricultural products (d) Intra-European Union trade exceeds International Trade of the European Union. (e) None of the above Answer: D 2. The gravity model suggests that over time (a) trade between neighboring countries will increase (b) trade between all countries will increase (c) world trade will eventually be swallowed by a black hole . (d) trade between Earth and other planets will become important (e) None of the above Answer: E 3. The gravity model explains why (a) trade between Sweden and Germany exceeds that between Sweden and Spain (b) countries with oil reserves tend to export oil. (c) capital rich countries export capital intensive products
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Midterm_Practice_Ch2 - World TradeAn Overview Multiple...

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