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16 Cards in this Set
- Front
- Back
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What does OPEC stand for?
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Organization of Petroleum Exporting Countries
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What does OECD stand for?
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Organization for Econonic Cooperation and Development
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What does BRIC stand for?
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Brazil, Russia, India, and China
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Imports are
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goods and/or services that are produced from a foreign country and purchased by domestic consumers.
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Goods that are produced in a domestic country and then sold abroad to buyers in foreign markets are
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exports
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Net exports are
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total exports minus total imports
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Over the last 50 years, the percentage of imports and exports to U.S. GDP has
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steadily risen
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Over the last 30 years, the U.S. has
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consistently run a trade deficit.
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Compared to many European countries, the U.S. has a ____ ratio of imports and exports to GDP.
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lower
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Which countries have the highest ratio of imports and exports to GDP?
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Pacific countries like Hong Kong and Singapore
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Who is (or was in 2007) the world’s largest total (including both goods and services) exporter (as measured in $’s)?
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The U.S.
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In 2007, which country was the world’s largest exporter of goods?
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Germany
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In 2007, which country was the world’s largest exporter of services?
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The U.S.
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Who is (or was in 2007) the world’s largest total (including both goods and services) exporter (as measured in $’s)?
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The U.S.
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In 2007, which country was the world’s largest exporter of goods?
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Germany
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In 2007, which country was the world’s largest exporter of services?
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The U.S.
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