This quiz works best with JavaScript enabled. Home > Economics > International Economics > International Trade > International Trade – Quiz 164 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books International Trade Quiz 164 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Imitating country is license country to produce a particular goods and services A) True. B) False. Show Answer Correct Answer: A) True. 2. According to the history of trading, the oldest route was probably from the Malabar coast or Syria up to the Persian Gulf. A) TRUE. B) FALSE. Show Answer Correct Answer: B) FALSE. 3. Has to do with time or other resources that go into making something A) Specialization. B) Inputs. C) Outputs. D) Opportunity Cost. Show Answer Correct Answer: B) Inputs. 4. Approaches to social responsibility include..... A) Affective. B) Informatif. C) Reactive. D) Defensive. Show Answer Correct Answer: D) Defensive. 5. The monetary difference between a country's imports and exports A) Tariff. B) Balance of brokerage. C) Freight fair trade. D) Balance of trade. Show Answer Correct Answer: D) Balance of trade. 6. Revenue tariffs are levied to A) Increase imports. B) Lower exports. C) Raise money. D) Protect domestic producers. Show Answer Correct Answer: C) Raise money. 7. Since 2000 a country's export prices have increased on average by 50 % and its import prices by 25%. What is the current figure for the country's terms of trade (2000 = 100)?A 75 B 83 C 120 D 125 A) A. B) B. C) C. D) D. Show Answer Correct Answer: C) C. 8. A trade agreement between Canada, Mexico, and the US A) NAFTA. B) EU. C) WTO. D) ABC. Show Answer Correct Answer: A) NAFTA. 9. Europe's trading bloc. A) European Union. B) Globalization. C) Proprietary. D) Multinational. Show Answer Correct Answer: A) European Union. 10. The GATT was a bilateral agreement whose objective was to liberalize trade by eliminating tariffs, subsidies, import quotas, and the like. A) True. B) False. Show Answer Correct Answer: B) False. 11. Which trade organization includes nations on the Pacific Rim? A) EU. B) APEC. C) OPEC. D) NAFTA. Show Answer Correct Answer: B) APEC. 12. Banco emisor = advising bank A) True. B) False. Show Answer Correct Answer: B) False. 13. A country with very rich soil and a tropical climate decides to concentrate on growing coffee. This is known as A) Opportunity cost. B) Specialization. C) Advantage. D) Economic interdependence. Show Answer Correct Answer: B) Specialization. 14. This instrument in Trade Policy is variously defined as selling goods in a foreign market at below their costs of production or as selling goods in a foreign market at below their "fair" market value. A) Protectionist Trends. B) Voluntary Export Restraints. C) Export Tariffs and Bans. D) Anti-dumping Duties. Show Answer Correct Answer: D) Anti-dumping Duties. 15. Government based restrictions placed on international trade A) Trade Barriers. B) World Trade Organization. C) Free Trade Zone. D) Tariff. Show Answer Correct Answer: A) Trade Barriers. 16. Currency appreciation results in A) Increased exports, increased imports. B) Decreased exports, decreased imports. C) Increased exports, decreased imports. D) Decreased exports, increased imports. Show Answer Correct Answer: D) Decreased exports, increased imports. 17. How do free trade agreements benefit participating countries? A) Free trade agreements benefit participating countries by promoting environmental degradation and reducing economic growth. B) Free trade agreements benefit participating countries by causing economic stagnation and reducing trade and investment. C) Free trade agreements benefit participating countries by increasing barriers to trade and reducing job opportunities. D) Free trade agreements benefit participating countries by promoting economic growth, increasing trade and investment, creating job opportunities, and reducing barriers to trade. Show Answer Correct Answer: D) Free trade agreements benefit participating countries by promoting economic growth, increasing trade and investment, creating job opportunities, and reducing barriers to trade. 18. China is known as: A) The red invasion. B) The communist threat. C) The world's factory. D) The best economic system. Show Answer Correct Answer: C) The world's factory. 19. This instrument of Trade Policy is a tax placed on the export of a good. The goal behind this tariff is to discriminate against exporting to ensure that there is sufficient supply of a good within a country. A) Export Tariffs. B) Import Quotas. C) Local Content Requirements. D) Subsidies. Show Answer Correct Answer: A) Export Tariffs. 20. An economist argue that two nations need not be identical in every respect for mutually beneficial trade to result from increasing return to scale. A) True. B) False. Show Answer Correct Answer: A) True. ← 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