This quiz works best with JavaScript enabled. Home > Economics > International Economics > International Trade > International Trade – Quiz 132 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books International Trade Quiz 132 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Below are the documents required for international trade, especially regarding Transport Documents, except..... A) Export License. B) Bill of Lading (B/L). C) Airway Bill (AWB). D) Multimodal Transport Document. Show Answer Correct Answer: A) Export License. 2. GPA stands for..... A) Georgia Ports Association. B) Georgia Port of America. C) Georgia Port of Atlanta. D) Georgia Ports Authority. Show Answer Correct Answer: D) Georgia Ports Authority. 3. What type of tariff is a 10% tariff on a pair of jeans? A) A specific tariff. B) An unspecific tariff. C) A harmonised tariff. D) An ad valorem tariff. Show Answer Correct Answer: D) An ad valorem tariff. 4. Indonesia cooperates in international trade with Japan. Indonesia exports liquefied natural gas products. While from Japan, Indonesia imports vehicles because they are cheaper than producing their own. The factors that underlie Indonesia's trade with Japan are ..... A) Differences in human resources. B) Differences in people's consumption tastes. C) Production cost savings/efficiency. D) Regional cooperation with neighboring countries. Show Answer Correct Answer: C) Production cost savings/efficiency. 5. What are the Protectionism's measures? A) Taxing and restrictions. B) Subsides, quotas, embargoes, anti-dumping duties and tariffs. C) Tariff, anti-dumping duties, taxes, subsidies and barriers. D) Embargoes, quotas, taxing and restrictions. Show Answer Correct Answer: B) Subsides, quotas, embargoes, anti-dumping duties and tariffs. 6. International trade is narrowly defined as A) The exchange of labor across national borders. B) The exchange of capital across national borders. C) The exchange of goods and services across national borders. D) The exchange of money across national borders. Show Answer Correct Answer: C) The exchange of goods and services across national borders. 7. One of the obstacles in international trade is..... A) The emergence of economic specialization. B) Science and technology transfer occurs. C) The emergence of a cultural shift in the country. D) Government policy. Show Answer Correct Answer: D) Government policy. 8. Government may limit the convertibility of currency to limit trade. Which of the following key policy area used by the government? A) Import quotas and VER. B) Currency controls. C) Local control requirements. D) None of above. Show Answer Correct Answer: B) Currency controls. 9. The theory of absolute advantage destroys the mercantilist idea that international trade is a ..... A) Positive-sum game. B) Zero-sum game. C) Negative-sum game. D) Win-win game. Show Answer Correct Answer: B) Zero-sum game. 10. What do U.S. fast food companies enter into in order to open franchises in foreign countries A) Joint ventures. B) Trading blocks. C) Freight forwarding companies. D) Trade agreements. Show Answer Correct Answer: A) Joint ventures. 11. What happens to the price of exports when the exchange rate falls? A) The price of exports rises. B) The price of exports falls. C) Prices stay the same. D) None of above. Show Answer Correct Answer: B) The price of exports falls. 12. Which country excels at exporting pineapples and coffee? A) Bangladesh. B) South Korea. C) Costa Rica. D) Germany. Show Answer Correct Answer: C) Costa Rica. 13. It means freedom of equality before the law. A) Liberalization. B) Protectionism. C) Protectionist. D) Liberalism. Show Answer Correct Answer: D) Liberalism. 14. Rates are determined freely and the rate will fluctuate day-to-day A) Fixed exchange rate. B) Floating exchange rate. C) Flexible exchange rate. D) Stubborn exchange rate. Show Answer Correct Answer: C) Flexible exchange rate. 15. This policies are bureaucratic rules designed to make it difficult for imports to enter a country. A) WTO Policies. B) Corporate Policies. C) Administrative Policies. D) Organizational Policies. Show Answer Correct Answer: C) Administrative Policies. 16. International trading of goods has conditions: A) Terms and conditions between the buyer and seller. B) INVOICE. C) Civil and commercial law. D) INCOTERMS. Show Answer Correct Answer: D) INCOTERMS. 17. Rate at which one currency may be converted into another; used when world trade occurs A) Embargo. B) Foreign Exchange Rate. C) Balance of Payments. D) Balance of Trade. Show Answer Correct Answer: B) Foreign Exchange Rate. 18. Balance of Payments is also known as what? A) The Flow of Money. B) The Flow of Trade. C) The Flow of Exchange. D) None of above. Show Answer Correct Answer: A) The Flow of Money. 19. Which theory is based on the notion that competitive advantage is dependant on the four interacting aspects of factor endowments, domestic demand, firm strategy, and related and supporting industries? A) Strategic trade theory. B) Comparative advantage theory. C) National competitive advantage of industries theory. D) Product life cycle theory. Show Answer Correct Answer: C) National competitive advantage of industries theory. 20. What is it called when countries attempt to keep the values of their currencies constant compared to one another? A) High interest rates. B) Fixed exchange rates. C) Low APR. D) Flexible exchange rates. Show Answer Correct Answer: B) Fixed exchange rates. ← PreviousNext →Related QuizzesInternational Economics QuizzesEconomics QuizzesInternational Trade Quiz 1International Trade Quiz 2International Trade Quiz 3International Trade Quiz 4International Trade Quiz 5International Trade Quiz 6International Trade Quiz 7International Trade Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books