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International Trade Quiz 49 (20 MCQs)

Quiz Instructions

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1. Why do all societies have to make decisions about how resources will be used?
2. Which of the following is one of the four elements discussed in the theory of national competitive advantage?
3. What was the baccalaureate obtained by your professor in this subject at UP Diliman?
4. What are problems a country/ government handles with a another country?
5. ProCredit Bank has had a healthy credit ..... and consistent profitability, even in times of financial crisis.
6. Recipient
7. Farmer John has a pistachio farm. It takes him 5 hours worth of work to harvest 1 pound of nuts. Farmer Rick also has a pistachio farm. It takes him 10 hours worth of work to harvest 1 pound of nuts. Finally, Farmer Erica owns a third pistachio farm. She can harvest 1 pound of nuts in 2 hours. Who has the absolute advantage in this example?
8. Suppose you apply to study as a graduate student in a foreign country, but during the Covid period you can only take classes online and pay the tuition fee. Is this considered international trade?
9. At present, one unit of a country's currency exchanges for US$ 1.2. The country aims to set its exchange rate equal to US$ 1.0. Which combination of government actions in the foreign exchange market must achieve this aim? A buying US currency and buying its own currency B buying US currency and selling its own currency C selling US currency and buying its own currency D selling US currency and selling its own currency
10. The principles of business ethics include .....
11. Companies can produce goods for the domestic market as well as the foreign market. Is this a benefit or cost of free trade?
12. Offices and manufacturing plants established abroad by domestic businesses
13. Which trade policy seeks to reduce or eliminate trade barriers between member countries?
14. I can't remember exactly what he said but I'm sure he ..... something about the new sales rules.
15. What is the principle by which one state promises to give another state the same treatment given to its most-favored trading partner?
16. What is a potential misconception about international integration?
17. Which of the following is not a reason of international business?
18. Who is correct about the World Trade Organization (WTO)? Avery says it promotes protectionist policies. Elijah says it eradicates protectionism. Rohan says it regulates international financial transactions. Another student says it supports environmental protection.
19. Safeguards or security measures are policies that allow a country to carry out..... concessions and other obligations under GATT, under certain circumstances and conditions.
20. Importing and Exporting are needed because countries specialize.
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