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International Economics Quiz 26 (30 MCQs)

Quiz Instructions

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1. With a partial trade agreement,
2. 2) The Ricardian model attributes the gains from trade associated with the principle of comparative advantage result to
3. One advantage to the business of becoming a multinational is that:
4. The figure illustrates the international movement of capital. When there is no international movement of capital, Nation 1 and Nation 2 invest their entire capital stock domestically, its total output of country 1 is .....
5. A sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.
6. A primary reason why nations conduct international trade is because:
7. Many in the US are concerned about the depreciation of the US dollar. They would like to increase the value of the dollar. Which is the BEST argument for or against whether the value of the dollar should be increased?
8. Study on economic interdependence between countries and its effects on economies is known as
9. A record of all the transactions that occurred between the individuals, businesses, and government units of one nation and those of the rest of the world.
10. Taxes on imports specifically to raise money, are rarely used today.
11. A tariff-rate quota is essentially a
12. If the US dollar appreciates relative to the Canadian dollar, what is a likely outcome?
13. ..... countries were members of WTO as on 1st January 1995
14. International trade and domestic trade differ because of .....
15. One potential disadvantage for a country of encouraging a multinational business to set up is that:
16. A tax on imports
17. Trade must be ..... and .....
18. How much is 60 dollars in Rupees? One U.S. Dollar in FC One FC in U.S. Dollars Indian Rupee 52.02 .0192
19. Who proposed that a country produces and exports the product in which it has comparative advantage.
20. What is the USMCA?
21. A country can have an increased surplus in its balance of trade as a result of
22. Which trade barrier is implemented when countries have strong political disputes or disagreements? (Example:The United States and Cuba)
23. Many workers have moved across borders, and jobs have shifted to emerging markets
24. Nontariff trade barriers could include all of the following except
25. Labor, human capital, entrepreneurship, natural resources, and capital are all examples of which of the following?
26. Terms of trade is defined as
27. Group of countries that join together to trade as if they were a single country.
28. A reason why some countries use fixed exchange rates-often set at low values is so
29. Country "A" can produce 12 cars or 8 computers. Country "B" can produce 15 cars or 5 computers. Which country has the absolute advantage in terms of cars?
30. A law that cuts off most or all trade with a specific country.
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