Answer the following statement(s) true (T) or false (F)
1. The United States is one of the world’s largest exporters and importers.
2. The growth in exports is to Canada, Japan, Mexico, Taiwan, Korea, and Germany have been only minor in the past few yeas.
3. The balance of trade is the difference (in monetary terms) between the amount a country exports and the amount it imports.
4. There is no relationship between the balance of trade and the balance of payments.
5. As the dollar depreciates in relationship to the euro, it is more likely that U.S. imports will increase from Europe.
1. TRUE
2. FALSE
3. TRUE
4. FALSE
5. FALSE
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