Check the comprehension of the text choosing the answer which, you think, is correct

1. The variety of goods which nations want to consume they can produce independently.

a) Many nations simply cannot produce all goods with reasonable efficiency due to limited

domestic markets.

b) Some nations having limited domestic markets produce such goods.

c) Any nation imports all specific goods.

2. The United States accounts for an increasing percentage of total world trade.

a) Yes. It is true as the U.S. is a large country.

b) No, it is not true. In 1947 the U.S. supplied about one-third of the world’s total exports as

compared to about one-tenth today.

c) This statement doesn’t seem true. The world trade grows even more rapidly for Germany,

Japan and other nations than it does for the United States.

3 Disbalance in the nation’s trade means:

a)Exports exceed considerably imports.

b) Imports exceed considerably exports.

c) Exports equal imports.

4. The exports of goods are substantially in excess of the imports of goods, which is characteristic of any

developed country.

a) It is no significance for any developed nation.

b)It is true as there must not be any disbalance in the international trade.

c)It is true only partially. It is important to know to what nations the main part of export is

practised.

5. Net exports is the difference between the value of a nation’s exports and that o f its imports.

a) I don’t think so. Net exports is the value of the increase of exports year after year.

b) It can’t be true. Net exports is the sum of the total volume of exports.

c) I’m quite positive about it.

6. A large change in net exports does not influence the financial situation o f the nation.

a) One can agree with this statement as having a point.

b) Such changes can have magnified repercussions upon the domestic levels of income, employment,

and prices; hence, the financial situation can improve or become worse.

c) The level of national income will probably change, but the financial situation will remain

stable.

7. The mobility of resources among nations is considerably higher than it is within nations.

a) On the contrary, the mobility of resources within nations is higher than it is among nations.

b) I suppose, the mobility of resources is a notion which depends upon the Ministry of Foreign

Affairs. I can’t see any difference here.

c) The differences in tax laws and governmental regulations put severe restrictions upon the

migration of all kinds of resources among nations.

8. International trade is a substitute for the international mobility of resources.

a) International trade is the movement of goods and services, hence it cannot be practised as

the international mobility of resources.

b) If human and property resources do not move freely among nations, the international trade

can provide a substitute. Goods are a sum of labor and capital.

c) International trade is subject to political interferences and controls, that’s why it stands to

reason that it can’t serve as the international mobility of resources.