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International Trade Quiz 91 (20 MCQs)

Quiz Instructions

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1. Under comparative advantage, the country can produce the good at a lower opportunity cost, which measures what must be given up to produce it .....
2. Commodities are important to Malaysia after independence in 1957, Do you agree.
3. In 1962, the United States sanctioned Cuba and prohibited all imports and exports to and from Cuba. This is an example of which trade barrier?
4. The rate used for immediate delivery of a foreign-exchange contract
5. A fee charged for goods brought into one country from another
6. From the circular flow of income the equation of income is Y= C + S + T + M
7. Some companies sell their product in overseas markets at a much lower price than their actual cost of producing. What is that product called?
8. What is the auxiliary to present simple in third person?
9. The customers are heterogeneous in ..... market due to differences in languages, preferences, customs etc. across countries.
10. Limitation on the quantity of products allowed to be imported into a country
11. Change in exchange rates can lead to .....
12. Trade Integration is important to facilitate the movement of goods in each country through GATT and WTO but it just does not help traders comprehensively
13. Method which intervenes on trade to keep payments balance and control the currency rate
14. In international marketing the main difference between a foreign branch and a foreign subsidiary is .....
15. Tries to keep a country's economy free from foreign influences
16. Which of the following is not classified as Classical Country based theory?
17. The following is an approach to analyzing ethical behavior, namely.....
18. What theme of international economics is concerned with the study of "who sells what to whom" ?
19. When the government (central bank) of a country decides what its currency willbe worth relative to other currencies
20. Why did most European countries prioritize self-sufficiency before the 19th century?
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