• 2022-06-04
    Some trade creation was expected to occur as a result of the U.S.-Canada free-trade agreement, since Canadian exports to the United States and U.S. exports to Canada were expected to expand at the expense of imports from Germany and Japan that faced trade restrictions.
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      Should Canada impose a tariff on imports, one would expect Canada's:(  ) A: Terms of trade to improve and volume of trade   to decrease B: Terms of trade to worsen and volume of   trade to decrease C: Terms of trade to improve and volume of   trade to increase D: Terms of trade to worsen and volume of   trade to increase

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      A ()occurs when a country's imports exceed its exports during a given time period. A: trade balance B: trade imbalance C: trade surplus D: trade deficit

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      Situated in _____________, the Colon Free Trade Zone is the world second largest free trade zone, after China's Hong Kong. A: Panama B: Germany C: the United States D: New Zealand

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      Which nation is not a member of the North American Free Trade Association? A: Canada B: Greenland C: Mexico D: United States

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      A rise in the price of imports or a fall in the price of exports will A: improve the terms of trade B: worsen the terms of trade C: Expand the production possibilities curve D: Contract the production possibilities curve