43 Your neighbor makes the statement. To comect our balance of trade deficit, we should increase tarts on imported goods Using historical economic analyst, you respond that tarifts are increased, the long run effect is most likely to be an increase in US Imports, and a decrease in US exports a decrease in US imports, and an increase in US exports an increase in both US. imports and exports a decrease in both US imports and exports Question 44 it the exchange rate between dollars and euros changes from $1-200 euros to $1 100 euros ceteris paribus, has the dolar appreciated or depreciated, and would US Imports from Europe become less expensive or more expensive! Appreciated. More expensive Depreciated, Less expensive Appreciated. Less expensive Depreciated, More expensive Question 45 What has happened to global trade since the mid-1900s initely & increased dramatically but has declined for the past 30 years It has increased at a slow and steady rate It has increased exponerttaly with a recent slow down it has gone through periods of increase and decimase Question 46 Consider the FRED graph you created of US Imports and exports with the rest of the world. Overall, which of the following best explains what you discovered? The US runs a trade surplus in services and in goods The US. runs a trade dehcit in services and a trade surplus in goods The US runs a trade surplus in services and a trade deficit in goods The US runs a trade dencit in services and in good Question 43 an increase in imports and a dece in US export a decease in US imports and an inc US exports an increase in bonus impons and exports a decrease both US ports and exports Question 44 If the exchange rate between dollars and eurs changes brom $1-200 euros to 11-100 euros, ceteris paribus, has the dolar appreciated or depreciated, and would US imports from Europe become less expensive or more expensive Appreciated. More expensive Depreciated, Less expensive Appreciated. Less expensive Deprecated. More expensive Question 45 What has happened to global trade since the mid-1980s? initially it increased dramatically but has declined for the past 30 years It has increased at a slow and steady rate o It has increased exponentially with a recent slow down it has gone through periods of increase and decrease Question 46 Consider the FRED graph you created of U.S. imports and exports with the rest of the world. Overall, which of the following best explains what you discovered? The U.S. runs a trade surplus in services and in goods The U.S. runs a trade deficit in services and a trade surplus in goods The U.S. runs a trade surplus in services and a trade deficit in goods The US runs a trade deficit in services and in goods Question 48 Consider the FRED graph you cated degeting US state vel intematonal trade. Which US states have the urgest voume of exports to China in the most tful year of data avatuet in other words, which states are more to the Cavid 17 decase of exports to China or any other causes of decrease in econonec activity in China Calon and Texa Caloma and Maine Calona and Colorato Cams and Washington Question 49 According to the Census Bureau en our last hull year of data which of the following countries had the greatest percent of total trade with the United States Japan Canada China Germany D Question 50 Which of the following is the biggest export for the United States? Soybeans Gold Refined petroleum Aircraft parts Question 51 Nonrival and nonexcludable are characteristics of: private goods capital goods consumer goods public goods Question 52 In a situation where an externality occurs, the "third party" refers to those who: buy the product from others produce the product for others trade the product outside the nation or community are not directly involved in the transaction or activity Question 53 Excludability describes a condition where: there is no effective way to keep people from using a good. there is no potential for free-riding behavior one person's consumption of a good does not prevent consumption of the good by others. sellers can withhold the benefits of a good from those unwilling to pay for it