Which of the Following Statements Is True

question 63

Multiple Choice

Which of the following statements is true?

• A)Exports benefit trading countries because exports create jobs. Imports do not benefit trading countries because they result in a loss of jobs.
• B)Each year China exports about 50 percent of its wheat crop and 40 percent of its rice crop.
• C)Most of the leading exporting countries are large, high-income countries.
• D)All sectors of the U.S. economy are affected equally by international trade.

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Definitions:

Current Account

A component of a country's balance of payments that measures the trade of goods and services, plus net earnings from abroad and net transfer payments.

Capital Account

In macroeconomics and international finance, the part of the balance of payments which records all transactions made between entities in one country with entities in the rest of the world involving assets and liabilities.

Capital Accounts

Part of a nation's balance of payments that records all transactions involving the purchase and sale of assets.

Current Accounts

A component of a country’s balance of payments that includes the balance of trade, net primary income, and net earnings on foreign investments.