Chapter 01 1. Which of the following was NOT an impact of the coronavirus on medical resources in early to mid-2020? a. The United States reduced its tariff on medical equipment imported from China. b. All countries removed export quotas on medical equipment. c. Many countries restricted their exports of medical equipment to keep those goods for emergency use at home. d. Demand for medical equipment rose around the world. ANSWER: b 2. One of the impacts of the novel coronavirus in 2020 was that trade in medical equipment improved in the world economy to meet the need for medical products in a. Asia. b. Europe. c. North America. d. Asia, Europe, and North America, along with the developing countries with dense populations. ANSWER: d 3. What is the term for a capital flow that is used to purchase or build a tangible asset like a factory? a. migration b. service exports c. service imports d. foreign direct investment ANSWER: d 4. To maintain a steady domestic supply of medical equipment, some countries followed a. export promotion policies. b. export quota trade policy. c. import tariff tra