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International Trade Quiz 105 (25 MCQs)

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1. When it comes to disadvantages of international trade, which is not MENTIONED as a drawback of international trade?
2. This term means that the quoted price includes the cost of goods, insurance, and transportation to the destination port.
3. There was an increase in the value of the United States (US) dollar against the South African Rand. What is a result of this? A an increase in the number of exports from the US to South Africa B an increase in the number of imports to the US from South Africa C fewer people from the US spend holidays in South Africa D more people from South Africa spend holidays in the US
4. A limit on the number of cars that can be brought into the country called as _____
5. What is one limitation of the theory of comparative advantage regarding the assumption of multiple countries involved in trade?
6. When the FED orders a tight money policy?
7. Which country's economic contraction was lower than the global average?
8. The United States IMPORTS
9. Freight forwarder:
10. Another term for a fall in the exchange rate is _____
11. Example:The U.S. president increased the amount of imported peanuts allowed into the country by 100 million pounds per year.
12. Does CITES have direct international power to enforce its regulations?
13. As a general rule, the Australian government encourages trade liberalisation.
14. What is a trade agreement?
15. Cheese is sold for $4 a pound. Wine is sold for $7 a gallon. It takes 1 hour of labor to produce a pound of cheese.It takes 2 hours of labor to produce a gallon of wine. What will the workers produce?
16. The table shows a country's exports and imports.What was the country's balance of trade in goods and services? A a deficit of $7 million B a deficit of $13 million C a surplus of $7 million D a surplus of $13 million
17. The country that exports a lot of motorcycles to Indonesia is _____
18. When your exports are greater than your imports, this exists?
19. What occurs when one country refuses to buy goods from another country?
20. Choose the best answer about the relation between interest rate and exchange rate
21. What is Distribution Costs referring to as a negative of Global trade
22. Selling goods and services to another country is considered?
23. Mercantilism_____
24. Among the objectives countries' have when seeking regional trade agreements, we don't find:
25. What determines what goods a country will proudce?
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