Imports and exports - Study guides, Class notes & Summaries

The term "emerging economies" has replaced the term _____. - Correct answerDeveloping countries The gross domestic product plus the income from non-resident sources abroad gives the ____. - Correct answer-gross national product More than 25% of global GDP comes from _____. - Correct answer-BRICS countries Viewing the global economy as a pyramid, the Triad refers to _____. - Correct answerNorth America, Western Europe, and Japan People who earn _____ a year comprise the base of the global ...

Marketing Test 2 Study Guide Question and answers 100% correct World Trade - correct answer -flow of goods and services between countries -the world do not participate equally in world trade. World trade flows reflect interdependencies among industries, countries, and regions. -China will replace the United States as the biggest country measured by trade. -Asia will overtake Western Europe as the largest region measured by trade. Imports - correct answer goods purchased from an...

ECOW correct answers Economic data watch: finds most important data by country Essential economic indicators correct answers Economic growth Inflation Unemployment Business confidence Housing Economic growth: gdp correct answers Market value of all final goods and services produced in a country Broadest and most comprehensive barometer of economic activity GDP = C + I + G + (X-M) correct answers C= personal consumption (food) I= private investment (a factory) G=government consu...

MGCR 382 International Business Pre-Midterm Study Guide lecture notes for the first half of the class McGill University Trade Theory International Trade and the World Economy - Trade: voluntary exchange of goods, services, assets, or money between one person or organization and another. - International Trade: trade between residents of two countries. Why Does International Trade Occur? - Both parties to the transaction benefit. - Imports provide (1) higher quality and/or (2) less expensiv...

Macro Econ 220 - Unit 15 - International Trade Exam 26 Questions with Verified Answers CORRECT ANSWER Trade volume: volume of import plus exports. Net exports: volume of exports minus imports. Trade surplus: Positive net exports or exports > imports. Trade deficit: Negative net exports or exports < imports. Why do nations trade? - CORRECT ANSWER Reasons: 1. Nations differ in their endowment of economic resources; differences in the distribution of natural, human, and cap...

INTL 220 chapter 1,5,6,7,8,11 and 13 Exam 166 Questions with Verified Answers What are some important institutions in international Business. - CORRECT ANSWER economic institutions: markets, individual rights, contracts and patents political institutions: political system states and markets, public goods, taxaxion Economic institutions- markets - CORRECT ANSWER interactions between supply and demand-free to buy, sell, trade set values, prices and servicea property ownership - CORR...

4 Components of GDP Correct Answer-1) Consumption Spending (not including spending on new houses) 2) Investment Spending (drops MORE in a recession) 3) Government Purchases (does not include transfer payments, i.e. social security) 4) Net Exports (exports - imports) GDP Equals Correct Answer-Total Production = Total Income GDP Correct Answer-Market Value of all Final Goods and Services Produced in a Country in a Year What is NOT Included in GDP Correct Answer-Underground Economy and ...

MBA Econ FINAL Exam Questions & Answers 2024/2025 What does GDP measure? Four Components of GDP? - ANSWERSTotal income of everyone in the economy and total expenditure on goods and services. - Total expenditure= total income (because every dollar spent somewhere goes to someone) - Four components of GDP: 1. Consumption (largest segment) 2. Investment 3. Government Spending (2nd largest segment) 4. Net Exports (smallest segment) Y= C + I + G + NX Consumption - ANSWERSTotal spendin...

ECON 2301 Test 3 - Questions, Answers and Rationales GDP is: A. the total value of all consumer expenditures within a given period. B. national income after taxes. C. the total value of all final goods and services plus intermediate goods and services produced domestically within a given period. D. the value of all final goods and services produced domestically within a given period. E. the total value of all final goods and services minus the value of intermediate goods and services produced ...

Suppose in 2017 the number of people in the labor force was 160,398 thousand, employment was 153,336 thousand and unemployment was 7,062 thousand. Suppose unemployment in 2016 was 7,750 thousand. How would you calculate the unemployment rate for 2017? a. Divide 2017 unemployment by the 2017 labor force, and format as a percentage. b. Divide 2017 unemployment by 2017 employment, and format as a percentage. c. Take 2017 unemployment, subtract 2016 unemployment, divide the result by 2...