Consider Canada's Terms of Trade

question 37

Multiple Choice

Consider Canada's terms of trade.Canada is a net exporter of oil.An increase in the world price of oil,ceteris paribus,means that Canada's terms of trade will

• A)deteriorate.
• B)improve.
• C)not change.
• D)improve as long as all of Canada's production of oil is being exported.
• E)deteriorate as long as Canada exports more oil than it imports.

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Definitions:

Federalist

An advocate or supporter of federalism, particularly referring to members of a political group in the United States in the late 18th and early 19th centuries that supported a strong centralized government and the ratification of the US Constitution.

Appointive Offices

Positions of authority or responsibility within an organization or government that are assigned to individuals rather than elected.

Federal Government

The national government of the United States, created by the Constitution, consisting of three branches: executive, legislative, and judicial.

Pro-French Foreign Policy

A foreign policy stance favoring close relations and alliances with France, often in terms of diplomacy, trade, and military cooperation.