ECON 312 Week 7 Quiz

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(TCO 8) The United States’ most important trading partner quantitatively is

(TCO 8) The World Trade Organization

(TCO 9) The current account in a nation’s balance of payments includes

(TCO 9) If the exchange rate between the U.S. dollar and the Japanese yen is $1 = 200 yen, then the dollar price of the yen is

(TCO 9) In terms of individual nations, the largest U.S. trade deficit is with

(TCO 9) Answer the next question(s) on the basis of the following table which indicates the dollar price of libras, the currency used in the hypothetical nation of Libra.  Assume that a system of freely floating exchange rates is in place

(TCO 8) The primary gain from international trade is

(TCO 8) Refer to the graphs below.  Stanville has a comparative advantage in producing

(TCO 9) The Group of Eight (G8) Nations which periodically have jointly intervened to influence the value of the dollar include

(TCO 8) Which country has the largest share of total world exports?

(TCO 8 and 10) Explain some of problems with the argument that trade protection is needed to protect American jobs

(TCO 9) What effect might the depreciation of the U.S. dollar relative to the Japanese yen have on imports and exports to and from each country?