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International Trade Quiz 54 (20 MCQs)

Quiz Instructions

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1. Unfortunately the recent takeover will result in a number of ..... at the plant.
2. IATA stands for International Asia Travel Association.
3. What is the action "to have control over a place or person" ?
4. The difference in value between a country's imports and exports is called its balance of trade.
5. Who is part of NAFTA?
6. Foreign firms could face problems in the domestic if they are not able to meet their standard.
7. A ..... is a group of countries that eliminate all tariffs on trade with each other but retain autonomy in determining their tariffs with nonmembers.
8. What did the U.S. government use to produce revenue before it imposed income taxes on its labor force
9. NAFTA is an agreement between all of the following countries EXCEPT
10. Sale of goods abroad at a price below their cost and below the price charged in the domestic market is a dumping.
11. In the formula of relative wage which stands for the wage rate in a foreign country?
12. Insurance agent.....
13. Over the last 50 years, trade between nations has decreased
14. Basic principle of GATT referred to the no discrimination
15. Which country is NOT the member of ASEAN?
16. Protectionism represents a serious risk to Australia's interests
17. What is a primary reason why businesses trade with emerging countries?
18. This person is in charge of the bookkeeping and payroll
19. This Development World Trading System was came after the originated country wherein GATT members embarked on their eighth round of negotiations to reduce tariffs.
20. Fixed rate
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