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if you export more than you import you are in a trade surplus
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- Which of the following is a defining characteristic of a voluntary export restraint (VER)? A. International regulatory bodies set export or import limits.B. The importing country can levy heavier import tariffs to override the VERs.C. The exporting country sets the limits on the quantity it will export.D. It is a mandatory tax imposed by a government on goods entering at its borders.E. It is an absolute restriction against the importation of certain goods.
- What was the most apparent reciprocal impact of the foreign economic assistance given by the United States? A. European countries formed an alliance to counter the OPEC countries' clout.B. Outflow of labor to the recipient countries increased dramatically.C. All recipient countries appointed Americans to manage their central banks.D. Purchases of U.S. agricultural products, manufactured goods, and services by the recipient countries increased.E. Distribution of economic power and potential became more uneven.
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