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International Trade Quiz 169 (20 MCQs)

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1. A ban on trade with a country or group of countries, usually for political reasons; a type of trade barrier.
2. Marketing and sales can also create value by discovering consumer needs and communicating them back to the logistics function of the company, which can then design products that better match those needs.
3. Trade restrictions on sugar cause U.S. consumers to pay more than twice the going world price for sugar. However, you are very unlikely to ever encounter bumper stickers that say things like "Out of money yet? Keep taxing foreign sugar!" or "Hungry? It's probably because domestic sugar is so expensive!" Why?
4. There are never losers in international trade
5. Infant industries can be helped in the world market by giving those industries a
6. Which of the following is an example of a non-tariff barrier to international trade?
7. When one producer has lower opportunity costs than another, they can be said to have a .....
8. Which method of protection raises revenue for the government?
9. How is the balance of trade calculated?
10. What is the name of the trade bloc established in the Caribbean?
11. Under FCA (Free-to-carrier) conditions, the seller is responsible for taking care of taxes, transportation and..... all in order to prepare for export.
12. What is called a Harmonized System?
13. In 1997, two South Korean manufacturers of semiconductors, LGSemicon and Hyundai Electronics, were accused of selling dynamicrandom access memory chips (DRAMs) in the U.S. market at belowtheir costs of production. It was alleged that the firms were trying tounload their excess production in the United States. This is anexample of:
14. Which of the following is not true about International trade in India?
15. Increased productivity by farmers made possible by the development of farm machinery in the 1800s resulted in overproduction and a decline in the prices of farm products. In what decade did this decline begin?
16. Countries need the right resources to create products. Which of the following factors is NOT a resource that a country might need in order to produce something to trade?
17. Does not protect a country's businesses from outside competitors
18. Percentage of the value of the import
19. It mean that migration brings a lower-cost labor force to industrialized countries while skilled labor is in short supply in the exporting countries.
20. How much did the tourism industry activity fall in the first quarter of 2020?
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