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International Trade Quiz 120 (20 MCQs)

Quiz Instructions

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1. EU like Ireland placed this tpye of barrier to trade on the UK due to BSE crisis in cattle.
2. The dollar is worth more than a foreign currency
3. A ..... is a restriction on the amount of goods that can be imported into a country.
4. The most serious type of trade barrier.
5. Which of the following is an example of an exported product?
6. Japan's government budget deficit affects Japan's real interest rates, supply of euros, the yen price of the euros and should the European central bank buy or sell euros to reverse the change in the foreign exchange market. Japan's rir% ..... supply of euros ..... Yen price of Euro ..... ECB actionA) increase ..... shifts right ..... increase ..... buy eurosB) increase ..... shifts right ..... decrease ..... buy eurosC) increase ..... shifts right ..... decrease ..... sell eurosD) increase ..... shifts left ..... decrease ..... buy eurosE) increase ..... shifts left ..... increase ..... sell euros
7. If one country can produce a good with fewer resources than another country, this is called:
8. What is one of the benefits of international trade in terms of technology and knowledge transfer between countries?
9. The MNCs Theory deepened trade and investment liberalization. The Heckscher-Ohlin Factor Endowment Theory states that commodity and factor markets are in no perfect competition.
10. If we export more than we import, we are said to have a ..... balance of trade. If we import more we are said to have a ..... dollar
11. Which one of these is not a benefit of Global Trade?
12. International bussiness
13. In 2016, the United States limited the number of Japanese cars imported to 2 million per year. This is an example of a/an .....
14. Each of the world's nations must obtain some goods and services from other nations. This mutual need to share resources is called economic .....
15. In this law, judges rely on the detailed legal codes rather than interpreting then tradition, precedent and custom.
16. If all countries were endowed with the same natural resources, there would be fewer opportunities for specialization and trade.
17. If we don't launch the product by the 15th of the month, we're going to ..... in this industry.
18. If in country A, 1 man-day of labour can produce 20 units of X but 10 units of Y and In country B, 1 man-day of labour can produce 10 units of X but 20 units of Y, then .....
19. External Trade is also called as
20. New Trade Theory argues that economies of scale are an important factor in some industries for superior international performance, even in the absence of ( ).
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