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International Trade Quiz 111 (30 MCQs)

Quiz Instructions

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1. What is called a Harmonized System?
2. In 1997, two South Korean manufacturers of semiconductors, LGSemicon and Hyundai Electronics, were accused of selling dynamicrandom access memory chips (DRAMs) in the U.S. market at belowtheir costs of production. It was alleged that the firms were trying tounload their excess production in the United States. This is anexample of:
3. Which of the following is not true about International trade in India?
4. Increased productivity by farmers made possible by the development of farm machinery in the 1800s resulted in overproduction and a decline in the prices of farm products. In what decade did this decline begin?
5. Countries need the right resources to create products. Which of the following factors is NOT a resource that a country might need in order to produce something to trade?
6. Does not protect a country's businesses from outside competitors
7. Percentage of the value of the import
8. It mean that migration brings a lower-cost labor force to industrialized countries while skilled labor is in short supply in the exporting countries.
9. How much did the tourism industry activity fall in the first quarter of 2020?
10. Mines in Africa produce diamonds and gold and sell these to Jewelers in Canada. To African producers, diamonds and gold are an import.
11. Seaports are called Gateways of International Trade because:a) Cargoes and passangers travel from one part of the world to other through these portsb) The ports provide facilities for docking, loading, unloading and storage of goodsc) Ports make arrangements for tugs and barges
12. Purchase and sell of goods and services by companies in different countries
13. Which group is MOST LIKELY to benefit if the US Dollar appreciates against the Mexican Peso?
14. Which of the following is NOT an example of an origin criterion necessary for taxation upon import of goods?
15. Where do USA citizen's go to obtain help, while in a foreign country?
16. How much the currency of one nation is worth compared to the currency of another nation
17. Goods produced in one country then shipped to another region or country are called:
18. A business agreement where one organization grants permission to another organization to produce its product for a mutually agreed-upon fee.
19. Question 5:A/An ..... draft requires the importer to pay when goods are delivered.
20. New trends in International Trade
21. The exporter has sent the goods before payment, and payment is received after the goods are sold by the importer
22. Discuss the advantages and disadvantages of international trade for a country's economy.
23. It is an economic policy aimed at protecting domestic industries and jobs by imposing trade barriers, such as tariffs, quotas, and subsidies, to limit foreign competition.
24. The process of banning the imports of certain goods because of economics, social and politics is known as
25. Which of the following is not included in the classification of insurance contracts based on the object of insurance?
26. When a country can produce something at a lower opportunity cost, it has a.....
27. In terms of both imports and exports, our largest trade partner is
28. What does NAFTA stands for?
29. What type of advantage shows who can make the most item?
30. All are the basic methods of payment could then be listed as follows:except
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