A tariff does not raise any revenue for the government if:
A) imports exceed exports. B) exports exceed imports.
C) exports equal imports. D) it reduces imports to zero.
D
You might also like to view...
Someone in Germany has just ordered a U.S. car to be exported to Germany. In the U.S. balance of payments, this purchase is a(n)
A) accounting identity. B) special draw. C) surplus item. D) deficit item.
The food and fiber industry today accounts for roughly what percent of GDP in the United States?
A) 8 to 11 percent B) 16 to 20 percent C) 12 to 15 percent D) 4 to 7 percent
When a currency depreciates relative to other currencies as a result of government action, it has been __________.
Fill in the blank(s) with the appropriate word(s).
The agreements that were reached at the Bretton Woods conference in 1944 established a system
A. in which the values of currencies were fixed in terms of a specific number of ounces of gold, which in turn determined their values in international trading. B. of essentially fixed exchange rates under which each country agreed to intervene in the foreign exchange market when necessary to maintain the agreed-upon value of its currency. C. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nations. D. that prohibited governments from intervening in the foreign exchange markets.