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

question 18

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

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