Name: _________________________ Date: _____________
1. An “ open” economy is one in which:
A) the level of output is fixed.
B) government spending exceeds revenues.
C) the national interest rate equals the world interest rate.
D) there is trade in goods and rvices with the rest of the world.
2. A country's exports may be written as equal to:
A) GDP minus consumption minus investment minus government spending.
B) GDP minus consumption of domestic goods and rvices minus investment of
domestic goods and rvices minus government purchas of domestic goods and
rvices.
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C) imports.
D) GDP minus imports.
3. Net exports equal GDP minus domestic spending on:
A) all goods and rvices.
B) all goods and rvices plus foreign spending on domestic goods and rvices.
C) domestic goods and rvices.
D) domestic goods and rvices minus foreign spending on domestic goods and
rvices.
4. If domestic spending exceeds output, we _____ the differenc—e net exports are
msn是什么东西A) import; negative
B) export; positive
C) import; positive
D) export; negative
5. The value of net exports is also the value of:
fightA) net investment.
B) net saving.
C) national saving.
D) the excess of national saving over domestic investment.
6. If net capital outflow is positive, then:
A) exports must be positive.
B) exports must be negative.
C) the trade balance must be positive.
D) the trade balance must be negative.
7. Net capital outflow is equal to:
A) national saving minus the trade balance.
B) domestic investment plus the trade balance.
血腥打企鹅C) domestic investment minus national saving.
D) national saving minus domestic investment.
8. Net capital outflow is equal to the amount that:
A) foreign investors lend here.
B) domestic investors lend abroad.
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C) foreign investors lend here minus the amount domestic investors lend abroad.
D) domestic investors lend abroad minus the amount that foreign investors lend here.
9. If domestic saving exceeds domestic investment, then net exports are _____ and net
capital outflows are _____ .
A) positive; positive
B) positive; negative
C) negative; negative
D) negative; positive
10. In a small, open economy if net exports are negative, then:
A) domestic spending is greater than output.
B) saving is greater than investment.
C) net capital outflows are positive.
D) imports are less than exports.
11. If domestic saving is less than domestic investment, then net exports are ____ and net
capital outflows are _____ .
A) positive; positive
B) positive; negative
C) negative; negative
D) negative; positive
12. When exports exceed imports,all of the following are true except:
A) net capital outflows are positive.
B) net exports are positive.
C) domestic investment exceeds domestic saving.
D) domestic output exceeds domestic spending.
13. In a small open economy, if exports equal $20 billion, imports equal $30 billion, and
domestic national saving equals $25 billion, then net capital outflow equals:
A) -$25 billio n.
B) -$10 billio n.
C) $10 billion.
D) $25 billion.
14. In a small open economy, if exports equal $5 billion and imports equal $7 billion, then
there is a trade _____ a nd ______ net capital outflow.
A) deficit; negative
B) surplus; negative
C) deficit; positive
D) surplus; positive
15. In a small open economy, if exports equal $15 billion and imports equal $8 billion, then
there is a trade _____ a nd ______ net capital outflow.
A) deficit; negative
B) surplus; negative
C) deficit; positive
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D) surplus; positive
park是什么意思16. In a small open economy, if domestic saving equals $50 billion and domestic investment
equals $50 billion, then there is _____ and net capital outflow equals _____ .
A) a trade deficit; $100 billion
B) balanced trade; $0
C) a trade surplus; $100 billion
D) balanced trade; $100 billion
17. In a small open economy, if domestic investment exceeds domestic saving, then the
extra investment will be financed by:
A) borrowing from abroad.
B) borrowing from domestic banks.
C) the domestic government.
D) the World Bank.
18. In a small open economy, if domestic saving exceeds domestic investment, then the
extra saving will be ud to:
A) make loans to the domestic government.
B) make loans to foreigners.
C) repay the national debt.
D) repay loans to the Federal Rerve.
19. A trade deficit can be financed inall of the following ways exceptby:
A) borrowing from foreigners.
B) lling domestic asts to foreigners.
C) lling foreign asts owned by domestic residents to foreigners.
D) borrowing from domestic lenders.
20. If a U.S. corporation lls a product in Europe and us the proceeds to purcha shares
in a European corporation, then U.S. net exports _____ and net capital outflows
A) increa; increa
B) increa; decrea
C) decrea; increaandis
D) decrea; decrea
21. If a U.S. corporation purchas a product made in Europe and the European producer
us the proceeds to purcha a U.S. government bond, then U.S. net exports _____ and net capital outflows _____ .
A) increa; increa
B) increa; decrea
C) decrea; increa
D) decrea; decrea
22. If a U.S. corporation lls a product in Canada and us the proceeds to purcha a
product manufactured in Canada, then U.S. net exports _____ and net capital outflows
A) increa; increa
B) decrea; decrea
C) do not change; do not change
D) do not change; increa
23. A “ smalle”conomy is one in which the:
A) level of output is fixed.
B) price level is fixed.
C) domestic interest rate equals the world interest rate.
D) domestic saving is less than domestic investment.
24. The world interest rate:
A) is equal to the domestic interest rate.
coldsteelB) makes domestic saving equal to domestic investment.
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C) is the interest rate charged on loans by the World Bank.
D) is the interest rate prevailing in world financial markets.
25. In a small open economy with perfect capital mobility, the real interest rate will always
be:
A) above the world real interest rate.
B) below the world real interest rate.
C) equal to the world real interest rate.
D) equal to the world nominal interest rate.
26. A small open economy with perfect capital mobility is characterized byall of the following
exceptthat:
A) its domestic interest rate always exceeds the world interest rate.
B) it engages in international trade.
C) its net capital outflows always equal the trade balance.
D) its government does not impede international borrowing or lending.
