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ECON 1012 Exports and Imports Flashcards | StudBud
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ECON 1012 Exports and Imports
ECON 1012 Exports and Imports
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Questions
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Answers
1
If the US economy shrinks then, in Canada......
Growth slows, because AD in Canada decreases
Growth increases, because AD in Canada increases
Growth slows, because AD in Canada increases
Growth increases, because AD in Canada decreases
2
If my inflation rate is higher than yours, then my currency should lose value
True
False
3
Why does PPP often take so long to work?
transportation costs
it is easy to exchange currencies
exchange rates are fixed by law
it is hard to exchange currencies
4
If your currency gains value, my exports likely increase
True
False
5
(T/F) If the US economy shrinks, US demand for Canadian goods & services declines
False
True
6
What was inflation in Peru when Prof. Samaniego left?
8%
8,000,000%
8,000%
800%
7
If my currency gains value, my exports likely increase
False
True
8
If PPP is slow, in the short run exchange rates must be driven by Demand and Supply of....
Goods
Services
Assets
Machinery
9
Net exports equals
Cash + checking + savings accounts
Revenue minus costs
Imports minus Exports
Exports minus imports
