Ans 5 - CHAPTER 5 INTERNATIONAL TRADE TRUE/FALSE QUESTIONS 1 An estimated 12 million U.S jobs depend on exports and these jobs pay more than jobs

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C HAPTER 5 I NTERNATIONAL T RADE TRUE/FALSE QUESTIONS 1. An estimated 12 million U.S. jobs depend on exports, and these jobs pay more than jobs not related to international trade. ( True; Moderate; p. 153; LO1) 2. Today, world merchandise exports are roughly $9.2 trillion. ( True; Easy; p. 154; LO1) 3. The U.S. Department of Commerce estimates that for every $1 billion increase in exports, ________ jobs are created in the United States. a. 22,800 b. 1,480 c. 2 million d. 380,000 (a; Difficult; p. 153; LO1) 4. The trade theory that nations should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports is called ________. a. absolute advantage b. mercantilism c. comparative advantage d. factor proportions theory (b; Easy; p. 157; LO2) 5. The condition that results when the value of a country’s imports is greater than the value of its exports is called ________.
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This note was uploaded on 06/21/2011 for the course ACCOUNTING 0116001 taught by Professor Bloom during the Spring '07 term at Santa Fe College.

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Ans 5 - CHAPTER 5 INTERNATIONAL TRADE TRUE/FALSE QUESTIONS 1 An estimated 12 million U.S jobs depend on exports and these jobs pay more than jobs

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