Consider the Following Statement: "Canada Is Unambiguously Better Off If

question 112

Multiple Choice

Consider the following statement: "Canada is unambiguously better off if it is exporting more,in dollar value,to the rest of the world than it is importing." This statement is ________ because ________.

• A)correct; exports are good and imports are bad
• B)correct; it is based on the mercantilist doctrine
• C)incorrect; it fails to recognize that the gains from trade come from the volume rather than the balance of trade
• D)incorrect; it does not recognize the operation of the foreign-exchange market
• E)incorrect; imports improve Canada's terms of trade

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