Question : 11) In 2012, the largest exporter in the world was A) : 1387636

11) In 2012, the largest exporter in the world was

A) Japan.

B) Germany.

C) China.

D) the United States.

12) In 2013, ________ of Goodyear’s sales were outside North America.

A) only 11 percent

B) more than 60 percent

C) less than half

D) 95 percent

13) Goodyear’s sales were negatively affected by the tariff on Chinese tires because

A) Goodyear operates factories in China, and some of the tires produced there were exported to the United States and subject to the tariff.

B) China retaliated and imposed a tariff on Goodyear tires exported to China.

C) despite being a U.S. company, all of Goodyear’s tires are produced in China.

D) the tariff raised the price on Chinese tires, allowing these tires to compete more directly with the more expensive Goodyear tires.

14) Which of the following statements is true?

A) Japan is more dependent on foreign trade than is the United States.

B) Imports and exports account for over one-half of the GDP of Belgium.

C) France is the leading exporting country, accounting for 10 percent of total world exports.

D) Because the cost of labor used on farms is so high, the United States exports very little of its wheat, rice and corn crops.

15) As a percentage of GDP, exports are greater than imports for which of the following countries?

A) the United Kingdom

B) France

C) the United States

D) China

16) Twenty-seven countries in Europe have eliminated all tariffs with each other. This group of countries is known as the

A) European Union.

B) United Federation of Europe.

C) Gruppo Euro.

D) European Free Trade Association.

17) NAFTA refers to a 1994 agreement that eliminated most tariffs among which countries?

A) Canada, the United Kingdom and Mexico

B) the United States, the United Kingdom and Mexico

C) the United States, Canada and Mexico

D) the United States, Mexico and Cuba

18) Today, the United States charged an average tariff rate

A) that is more than its average tariff rate in 1930.

B) which is greater than any other high-income country.

C) of less than 2 percent.

D) that exceeds 50 percent.

19) Which of the following statements is true?

A) Exports benefit trading countries because exports create jobs. Imports do not benefit trading countries because they result in a loss of jobs.

B) Each year China exports about 50 percent of its wheat crop and 40 percent of its rice crop.

C) Most of the leading exporting countries are large, high-income countries.

D) All sectors of the U.S. economy are affected equally by international trade.

20) When the U.S. government places a tariff on a product, such as the tariff on tires imported from China, the quantity of the product imported will generally ________ and the price paid by consumers for the product will generally ________.

A) increase; increase

B) increase; decrease

C) decrease; increase

D) decrease; decrease