Which of the following economic indicators is used by the Wo

Custom Essays Economics Which of the following economic indicators is used by the Wo

Economics

Which of the following economic indicators is used by the Wo

Which of the following economic indicators is used by the World Bank to classify countries as indus… Show more Which of the following economic indicators is used by the World Bank to classify countries as industrial economies or developing countries? A)GDP B)Rate of inflation C)Net exports D)Per capital income E)Budget deficits According to the World Bank, the high-income oil-exporting nations like Libya, Saudi Arabia, Kuwait, and the United Arab Emirates: A)are considered to be developing countries. B)are the major trade partners of the U.S. C)are also considered as industrial market economies. D)have highly interdependent economies. E)are considered highly developed countries. Which among the following industrial countries has the highest per capita income as measured by the World Bank in 2009? A)Kuwait B)Norway C)The United States D)Saudi Arabia E)Japan An import is defined as: A)a purchase of goods or services from another country. B)a business transaction between two or more domestic firms. C)a sale of goods or services to another nation. D)a tariff on foreign merchandise. E)a trade agreement between two industrial countries. Which of the following is true of Western Europe, Japan, Canada, Mexico, and China taken together? A)All these countries are classified as high-income countries by the World Bank. B)They are all members of the North American Free Trade Agreement [NAFTA]. C)All these countries are considered developed countries by the World Bank. D)They are collectively the largest trade partners of the U.S. E)They are the five largest exporters of agricultural produce in the world. A surplus in a country’s trade balance means that: A)net exports exceed transfer payments. B)the country’s currency is over-valued. C)the value of net exports is positive. D)imports into the country exceed exports. E)domestic savings exceeds domestic investment. A trade deficit occurs when: A)a country imposes a price floor. B)a country’s imports exceed its exports. C)a country imposes a price ceiling. D)a country’s exports exceed its imports. E)when the domestic product market is in disequilibrium. The term net exports refers to: A)the situation when a country’s exports exceed its imports. B)the situation when a country’s imports exceed its exports. C)the shortages that result when a country imposes a price ceiling. D)the shortages that result when a country imposes a price floor. E)the difference between the value of exports and the value of imports. In a given year, country A exported $12 million worth of goods to country B and $6 million worth of goods to country C; country B exported $4 million worth of goods to country A and $7 million worth of goods to country C; and country C exported $5 million worth of goods to country A and $2 million worth of goods to country B.Country A has net exports of: A)$18 million B)$8 million C)$13 million D)$9 million E)$6 million In a given year, country A exported $12 million worth of goods to country B and $6 million worth of goods to country C; country B exported $4 million worth of goods to country A and $7 million worth of goods to country C; and country C exported $5 million worth of goods to country A and $2 million worth of goods to country B.Country C has net exports of: A)zero B)$13 million C)$6 million D)-$13 million E)-$6 million In a given year, country A exported $12 million worth of goods to country B and $6 million worth of goods to country C; country B exported $4 million worth of goods to country A and $7 million worth of goods to country C; and country C exported $5 million worth of goods to country A and $2 million worth of goods to country B.Country B is running a: A)trade deficit with country A and a trade surplus with country C B)trade surplus with both countries A and C. C)trade surplus with country A and a trade deficit with country C. D)trade deficit with both countries A and C. E)balanced trade with country A and a trade deficit with country C. PLEASE LET ME KNOW IF YOU’RE CONFIDENT THAT YOUR ANSWERS ARE CORRECT SO THAT I CAN RATE YOU. I APPRECIATE ALL OF YOUR EXPERT ADVICE. • Show less

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