This quiz works best with JavaScript enabled. Home > Economics > International Economics > International Trade > International Trade – Quiz 53 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books International Trade Quiz 53 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Occurs when a nation's exports exceed its imports A) Trade barrier. B) The trade fails. C) Trade surplus. D) Export embargo. Show Answer Correct Answer: C) Trade surplus. 2. Difference between imports and exports A) Debit. B) Balance of Trade. C) Balanced Trade. D) Credit. Show Answer Correct Answer: B) Balance of Trade. 3. Which of the following is an example of an imported good? A) A locally produced car. B) A foreign-made smartphone. C) A handcrafted local artwork. D) A domestically grown apple. Show Answer Correct Answer: B) A foreign-made smartphone. 4. What are intangible actions or tasks that can be bought or sold? A) Services. B) Products. C) Goods. D) Commodities. Show Answer Correct Answer: A) Services. 5. Which agreement created the largest free-trade zone in the world? A) ASEAN. B) NAFTA. C) OPEC. D) EU. Show Answer Correct Answer: B) NAFTA. 6. Methods of protectionismA government only buying from domestic producers, even if it means paying higher prices A) Tariffs. B) Quotas. C) VER. D) Non-competitive purchasing by governments. E) Embargoes. Show Answer Correct Answer: D) Non-competitive purchasing by governments. 7. What is the English name of World Health Organization? A) WHY. B) WHAT. C) WHERE. D) WHO. Show Answer Correct Answer: D) WHO. 8. It means one Company invest in another company? A) Portfolio investment. B) Company investment. C) Trade Investment. D) Product Investment. Show Answer Correct Answer: A) Portfolio investment. 9. The following parts of the creative economy subsector which are not abstract products are..... A) Showbiz. B) Craft. C) Software. D) Advertising. Show Answer Correct Answer: B) Craft. 10. The rate at which one currency is exchanged for another A) Exchange. B) Canadian Dollar. C) Weight. D) Exchange rate. E) Currency. Show Answer Correct Answer: D) Exchange rate. 11. The following are considered Transport Documents except ..... A) On Waybill. B) Bill of Lading. C) Purchase Order. D) None of the Above. Show Answer Correct Answer: C) Purchase Order. 12. The trade-weighted value of the dollar explains that when the dollar is strong, A) The trade deficit decreases. B) The trade deficit is not affected. C) The trade deficit increases. D) None of above. Show Answer Correct Answer: C) The trade deficit increases. 13. Which type of country is likely to have the biggest surplus in invisible trade? A) Developing country. B) Emerging country. C) Developed country. D) None of above. Show Answer Correct Answer: C) Developed country. 14. An international organization based in Geneva that monitors and enforces rules governing global trade. A) World Trade Organization. B) United Nations. C) World Bank. D) NAFTA. Show Answer Correct Answer: A) World Trade Organization. 15. Local Content specifies the content of the material contained in an item that is released. A) YES. B) NO. Show Answer Correct Answer: B) NO. 16. Measures the price of one nation's currency in terms of another nation's currency A) Interest rates. B) Exchange rates. C) Discount rates. D) Inflation rates. Show Answer Correct Answer: B) Exchange rates. 17. Which is most likely to cause country X's exchange rate to depreciate? A an increase in country X's demand for imports B an increase in country X's interest rate C an increase in foreign demand for country X's exports D an increase in tourist visits to country X A) A. B) B. C) C. D) D. Show Answer Correct Answer: A) A. 18. A trading partner Australia currently has a trade tension with is: A) United Kingdom. B) China. C) USA. D) Saudi Arabia. Show Answer Correct Answer: B) China. 19. In the exchange rate between the Euro and the Peso, if the supply of Euros increase, what happens in the Market for Pesos? A) Supply increases. B) Demand decreases. C) The Peso appreciates. D) Supply decreases. Show Answer Correct Answer: C) The Peso appreciates. 20. Which of the following is NOT one of the main instruments of trade policy A) Tariffs. B) Local content requirement. C) Credit Portfolios. D) Administrative Policies. Show Answer Correct Answer: C) Credit Portfolios. ← 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