This quiz works best with JavaScript enabled. Home > Economics > International Economics > International Trade > International Trade – Quiz 84 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books International Trade Quiz 84 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Over-production in developed countries may be released into the markets of developing nations, which undercuts domestic prices and domestic producers may be forced to leave the market. This is called ..... A) Dumping. B) Quota. C) Tariffs. D) Embargo. Show Answer Correct Answer: A) Dumping. 2. A concentration of suppliers and supporting firms from the same industry located within the same geographic area. A) Factories Cluster. B) Businesses Cluster. C) Economic Cluster. D) Industrial Cluster. Show Answer Correct Answer: D) Industrial Cluster. 3. If there is a large increase in the number of Europeans traveling to the United States while US citizens' travel to Europe remains unchanged, which of the following is true A) The euro will depreciate because the demand for euros will decrease. B) The euro will depreciate because the supply of euros will increase. C) The euro will appreciate because the demand for euros will increase. D) The dollar will appreciate because the demand for dollars will increase. E) The dollar will appreciate because the supply of dollars will increase. Show Answer Correct Answer: B) The euro will depreciate because the supply of euros will increase. 4. Which term describes the practice of a company setting up operations in another country? A) Importing. B) Exporting. C) Offshoring. D) Insourcing. Show Answer Correct Answer: C) Offshoring. 5. When a country enters a free trade agreement, which of the following issues might be a problem they face? A) Higher tariffs on imported goods. B) Lower quotas that increase imports. C) Lower prices for consumers in markets. D) Decline in some industries as jobs cross borders. Show Answer Correct Answer: D) Decline in some industries as jobs cross borders. 6. Nations are almost always better off when they don't buy and sell from one another. A) TRUE. B) FALSE. Show Answer Correct Answer: B) FALSE. 7. TRIPS regulations oblige WTO members to all of the followingEXCEPT: A) Grant and enforce patents lasting for at least 20 years. B) Grant and enforce copyrights lasting for 50 years. C) Comply with the rules within 5 year for rich countries. D) Comply with the rules within 10 year for poorest countries. Show Answer Correct Answer: C) Comply with the rules within 5 year for rich countries. 8. In International licensing, the licensor is the domestic firm that allows the licensee to use its trademark or brand. A) True. B) False. Show Answer Correct Answer: A) True. 9. Economic activities carried out with foreign household economic actors are ..... A) Government regulations. B) Bank and credit. C) Subsidies and taxes. D) Export and import. Show Answer Correct Answer: D) Export and import. 10. Using protective tariffs and quotas is A) Free trade policy. B) Protectionist policy. C) Trade-wise. D) None of above. Show Answer Correct Answer: B) Protectionist policy. 11. Goods and services produced domestically and sold in other countries. A) Import. B) Export. Show Answer Correct Answer: B) Export. 12. Criminal and terrorist organizations generate large sums of cash, which they need to channel into the banking, corporate and trade financial systems, and both banks and traders can innocently fall victim to such activity if not exercising due diligence. A frequently used technique is ..... A) Over-invoicing or inflated transactions. B) Over-invoicing or deflated transactions. C) Under-invoicing or inflated transactions. D) Under-invoicing or deflated transactions. Show Answer Correct Answer: A) Over-invoicing or inflated transactions. 13. Means of international transport A) Maritime transportAir freight transport transportationMultimodal transport. B) Means of international transportAir freight transport terrestre transportationMultimodal transport. C) Means of international transportAir transport land transportationMultimodal transport. D) Maritime transportAir freight transport land transportationMultimodal transport. Show Answer Correct Answer: D) Maritime transportAir freight transport land transportationMultimodal transport. 14. International trade is the exchange of ..... across international borders or territories, which could involve the activities of the government and individual. A) Capital, goods, and services. B) Capital, good and service. C) Capital, good and servers. D) None of above. Show Answer Correct Answer: A) Capital, goods, and services. 15. What does unemployment mean? Choose from the following A) Exists when someone is looking for a job, but is enable to find one. B) Exists when someone is looking for a job, but is able to find one. Show Answer Correct Answer: A) Exists when someone is looking for a job, but is enable to find one. 16. Bulk purchasing is the purchase of large quantities for a price that is lower than the usual. A) True. B) False. Show Answer Correct Answer: A) True. 17. The WTO arised from the GATT, incorporating the following differences: A) IMF and ITO. B) WCO and MFN. C) GATS and TRIPS. D) None of above. Show Answer Correct Answer: C) GATS and TRIPS. 18. How has the EU promoted economic cooperation across Europe? A) It has reduced trade barriers. B) It has banned foreign imports. C) It has raised workers' salaries. D) It has ended business competition. Show Answer Correct Answer: A) It has reduced trade barriers. 19. Which of the following is not a benefit of trade between nations? A) More stuff. B) Better stuff. C) Cheaper stuff. D) Similar stuff. Show Answer Correct Answer: D) Similar stuff. 20. Which of the following is an export of Jamaica? A a loan to Jamaica by the International Monetary Fund B Jamaican holidays taken by American tourists C dividends paid by a company in Jamaica to its American shareholders D sales of Japanese cars in Jamaica A) A. B) B. C) C. D) D. Show Answer Correct Answer: B) B. ← 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