This quiz works best with JavaScript enabled. Home > Economics > International Economics > International Trade > International Trade – Quiz 186 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books International Trade Quiz 186 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is NOT a way money moves from one country to another? A) Tourism. B) Foreign investments. C) Foreign policy development. D) Imports and exports. Show Answer Correct Answer: C) Foreign policy development. 2. ..... is the basic physical and organizational structures and facilities (e.g., buildings, roads, and power supplies) needed for the operation of a society or enterprise. A) Infrastructure. B) Export. C) Tariff. D) Import quota. Show Answer Correct Answer: A) Infrastructure. 3. What is the acronym for Universal Federation of Travel Agents Association? A) IATA. B) UOTAA. C) UFTAA. D) TOUGH. Show Answer Correct Answer: C) UFTAA. 4. Which of the following allows for free movement of goods and services across countries A) Economic integration. B) European Union. C) Common market. D) Balance of trade. Show Answer Correct Answer: C) Common market. 5. Exchange rate means A) How many sales you make. B) The price of one currency against another. C) How many members of staff you have. D) Importing or exporting goods. Show Answer Correct Answer: B) The price of one currency against another. 6. What is custom? A) Consumer. B) Customs. C) Client. D) Budget. Show Answer Correct Answer: B) Customs. 7. OPEC was established in year ..... A) 1940. B) 1955. C) 1960. D) 1965. Show Answer Correct Answer: C) 1960. 8. Which of the following is an important factor to consider when calculating Transportation Costs? A) Customs Fees. B) Tariffs. C) Statutory Fees. D) Weather Conditions. Show Answer Correct Answer: A) Customs Fees. 9. ..... takes place when a company directly invests in properties such as plant and machinery in foreign countries with a view to undertaking production and marketing of goods and services in those countries. A) FPI. B) Export. C) JV. D) FDI. Show Answer Correct Answer: D) FDI. 10. All our experiences of International Trade in the Philippines EXCEPT A) Galleon Trade. B) Opium Trade. C) Legislated Trade Laws. D) War Rehabilitation after WWII. Show Answer Correct Answer: B) Opium Trade. 11. A trade agreement between Canada, Mexico, and the US, ....., has been a source of contention among many including our President. A) NAFTA. B) EU. C) WTO. D) ABC. Show Answer Correct Answer: A) NAFTA. 12. Trade deficit refers to the situation where A) Export of goods is more than the import of goods. B) Export of goods is less than the import of goods. C) Export of services is more than the import of services. D) Export of services is less than the import of services. Show Answer Correct Answer: B) Export of goods is less than the import of goods. 13. Why do a number of countries have an agreement with the Federal Reserve Bank of New York? A) To borrow money. B) To hold their gold in safekeeping. C) To move money from one country to another. D) To make withdrawals. Show Answer Correct Answer: B) To hold their gold in safekeeping. 14. What was the level of economic trade rebound during Q1 2021? A) Lower than expected. B) More than Expected. C) Aligning expectations. D) Much lower than expectations . Show Answer Correct Answer: B) More than Expected. 15. Which is NOT a benefit to open trade? A) Lower prices. B) More consumer choice. C) Increased tariffs. D) More markets for business. Show Answer Correct Answer: C) Increased tariffs. 16. Which Theory possesses the three general stages of product development? A) Heckscher-Ohlin Factor Endowment Theory. B) Export Base Theory. C) Endogenous Growth Theory. D) Product Cycle Theory & Linder's Theory of Representative Demand. Show Answer Correct Answer: D) Product Cycle Theory & Linder's Theory of Representative Demand. 17. When did The CPTPP be officially sign? A) In May 2017. B) In March 2018. C) In November 2017. D) In May 2018. Show Answer Correct Answer: B) In March 2018. 18. Current MERCOSUR members A) Argentina, Brazil, Venezuela, Uruguay. B) Bolivia, Brazil, Paraguay, Uruguay. C) Argentina, Brazil, Paraguay, Uruguay. D) Argentina, Brazil, Mexico, Colombia. Show Answer Correct Answer: C) Argentina, Brazil, Paraguay, Uruguay. 19. Which of the following was NOT listed as a benefit of international trade? A) Boosts economy. B) Creates efficiency. C) Distributes wealth. D) Improves manufacturing of products. Show Answer Correct Answer: C) Distributes wealth. 20. A ..... is a tax imposed by one country on the goods and services imported from another country A) Custom Union. B) Free-trade area. C) Tariff. D) Trade agreement. Show Answer Correct Answer: C) Tariff. ← 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