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International Trade Quiz 190 (20 MCQs)

Quiz Instructions

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1. Which is the most traditional and well established form of operating in foreign markets?
2. Following are the driving factors for international trade for importing countries:
3. Barrier to trade that limits the amount of goods or services that can be imported
4. In charge of locating goods in transit
5. An autarky point is.....
6. The Size of the market is relatively larger than that of domestic
7. If the value of intra-industry trade index (T) is T=1
8. When the exchange rate rises what happens to the demand for imports?
9. What is the term for financial or technical assistance given to a country, often by a foreign Government or Charity?
10. Hand chains made by Bahama glama sold in Macy's
11. When a nation's economic policy protects infant industries, hurts domestic workers, labor standards are not the same, and to protect national security.
12. Trust Receipt is a financing available to importers (buyers) only.
13. A balance of payment (BOP) shows the monetary transactions in visible and invisible trade between a country and the rest of the world over a period of a year. Transactions are marked either as .....
14. When will the imposition of a tariff by a country on the goods and services of its major trading partners reduce the country's expenditure on imports? A when the income elasticity of demand for imports is greater than 1 B when the price elasticity of demand for imports is greater than 1 C when the price elasticity of demand for imports is less than 1 D when the price elasticity of supply of imports is greater than 1
15. When can a shipment be placed on Temporary Admission?
16. Both tariffs and import quotas raise domestic prices, reduce the welfare of domestic consumers, increase the welfare of domestic producers, and cause deadweight losses.
17. Australia exported more than $ 337 billion in goods and services in 2016, amounting to one fifth of our economic activity.
18. What organization was created in an effort to encourage free trade?
19. The impact of a dispute resolution decision at the WTO that has been completed is:
20. The US and Nigeria are having a dispute concerning regulations on cotton imports. Which group listed below will help settle this dispute?
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