5.Terms of trade refer to

A. negotiations made by the Minister of Trade.

B. the rate at which goods are exchanged for one another.

C. the ratio of imports to exports.

D. protectionist policies.

6.Which of the following is NOT referred to as a barrier to trade?

A. tariffs

B. nontariff barriers

C. quotas

D. the market mechanism

7.If licensing restrictions are used to limit imports, this is an example of a

A. nontariff barrier.

B. tariff.

C. trade deficit.

D. quota.

8.If the U.S. dollar depreciates relative to the Chinese Yuan

A. U.S. citizens find it cheaper to visit China.

B. Chinese imports are cheaper for U.S. consumers to buy.

C. U.S. exports to China are cheaper for the Chinese to buy.

D. Chinese citizens find it more expensive to visit the United States.

9.Exchange rates are affected by changes in

A. the supply of a currency only.

B. the demand for a currency only.

C. both the demand for and supply of a currency.

D. the export of goods only.