This quiz works best with JavaScript enabled. Home > Economics > International Economics > International Trade > International Trade – Quiz 194 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books International Trade Quiz 194 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the term for a government policy and laws restricting international trade? A) Import restriction. B) Multilateral. C) Export subsidy. D) Protectionism. Show Answer Correct Answer: D) Protectionism. 2. A limit on the amount of a good that can be purchased from a foreign nation. A) Import quota. B) Export quota. Show Answer Correct Answer: A) Import quota. 3. Companies such as Coca-Cola and Disney have achieved growth through: A) Licensing. B) Joint-ventures. C) Piggybacking. D) Exporting. Show Answer Correct Answer: A) Licensing. 4. International trade means trade between ..... A) Provinces. B) Countries. C) Regions. D) States. Show Answer Correct Answer: B) Countries. 5. To conduct training or other programmes relating to productivity, quality, management and entrepreneurship; A) TREES. B) MATRADE. C) WHAT. D) MPC. Show Answer Correct Answer: D) MPC. 6. Which of the following wrong about benefit of International Trade? A) More variety for customers. B) Competitive pricing. C) Benefits from Currency Exchange. D) All are correct. Show Answer Correct Answer: D) All are correct. 7. What is one limitation of the theory of comparative advantage regarding the assumption of perfect information about prices and quantities in the market? A) It assumes that technology remains constant. B) It assumes that everyone has the same knowledge of prices and quantities in the market at the same time. C) It assumes that countries produce identical goods. D) It assumes that every country should specialize in producing the good with the lowest opportunity cost. Show Answer Correct Answer: B) It assumes that everyone has the same knowledge of prices and quantities in the market at the same time. 8. What are dividends? A) Sums of money paid to governments as taxes. B) Sums of money paid to workers as bonuses. C) Sums of money paid to shareholders out of earnings. D) Sums of money paid to banks as interest. Show Answer Correct Answer: C) Sums of money paid to shareholders out of earnings. 9. Instead ..... Chinese labor, the United States imports goods that were produced with Chinese labor. A) Of importing. B) To import. C) In exporting. D) None of above. Show Answer Correct Answer: A) Of importing. 10. Countries put a limit on trade to protect ..... A) Jobs. B) Reputation. C) Flag. D) Climate. Show Answer Correct Answer: A) Jobs. 11. The authority or organization that controls the flow of goods in and out of a country. A) Customs. B) Carrier. C) Fright forwarder. D) Manufacturer. Show Answer Correct Answer: A) Customs. 12. What is not a domestic policy issue? A) Economy. B) Crime. C) Education. D) Trade. Show Answer Correct Answer: D) Trade. 13. A good or a service bought in one country that was produced in another is an ..... A) Import. B) Export. Show Answer Correct Answer: A) Import. 14. What is an example of a Customs compliance audit? A) Evaluating Financial Records. B) Checking Product Quality. C) Verifying Customs Amounts Due. D) Preparing Tax Reports. Show Answer Correct Answer: C) Verifying Customs Amounts Due. 15. How do exchange rates impact international trade? A) They have no influence on trade costs. B) They affect the cost of imports and exports. C) They solely regulate trade agreements. D) They restrict trade barriers. Show Answer Correct Answer: B) They affect the cost of imports and exports. 16. International mining companies came to the Malay Peninsula to, , , , , , , , , the region's massive tin deposits A) Extract. B) Distill. C) Haggle. D) Shuttle. Show Answer Correct Answer: A) Extract. 17. Adam Smith's theory of absolute cost advantage in international trade was evolved as a strong reaction of the ..... mercantilist views on international trade. A) Bureaucratic. B) Liberal. C) Restrictive and protectionist. D) Anarchic. Show Answer Correct Answer: C) Restrictive and protectionist. 18. Comparative Advantage is about A) Making the product quickest. B) Making the product to the highest quality. C) Making the product where it is most efficient. D) None of above. Show Answer Correct Answer: C) Making the product where it is most efficient. 19. Planned economy is also called as Command economy A) TRUE. B) FALSE. Show Answer Correct Answer: A) TRUE. 20. People, Services, Investments and goods can move freely between Spain and Germany 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