Chapter One Quiz - Chapter One Quiz 1 Over the past 40...

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Chapter One Quiz 1. Over the past 40 years: c) the growth rate of manufacturing exports has been more than that of mining or of agriculture in most periods. 2. The European Union’s share in world trade is around : c) 40% 3. As of 2005, the share of primary (that is, agricultural and mining) products in global merchandise exports is about ____; this share has ____ since 1980. D) 25%; fallen 4. As of 2005, the top three merchandise exporters were: a) Germany, china, and the u.s. 5. The largest share of u.s. imports come from: b) Asia 6. The leading exporters of commercial services are: c) Industrialized countries 7. Over the past 30 years, most countries: a) have come to rely more heavily on international trade 8. Considering the 10 countries that had the largest shares in global exports and imports: a) industrialized countries dominate the list of both leading exporters and leading importers 9. The smallest proportion of u.s. imports is made up of _____ and a comparatively large proportion of u.s. exports is made up of _____. B) food, feeds, and beverages; non – automotive capital goods 10. International trade: c) was important in the ancient world, and is more important than ever today. Chapter Two Quiz 1. Mercantilism refers to: an economic philosophy favoring minimalist government 2. Mercantilist believed: in the labor theory of value and countries should maintain a trade surplus 3. To a mercantilist, the government should: engage in bullionism 4. The British navigation acts on the eighteenth century: were examples of mercantilist polices, excluded for
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This note was uploaded on 04/10/2011 for the course ECON 2001-1 taught by Professor Nickeyturner during the Spring '11 term at Walden University.

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Chapter One Quiz - Chapter One Quiz 1 Over the past 40...

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