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International Trade Quiz 114 (25 MCQs)

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1. Export tariffs are far less common than import tariffs.

2. What is the main goal of trade liberalization?

3. This document guarantees that payment will be made when the seller meets the conditions of sale.

4. One of the benefits of international trade is _____

5. What is the main benefit of businesses operating within a trading block?

6. Newspaper Headline: "The U.S. government places a tax on all imported cars." Which trade barrier is being used?

7. Two countries A and B produce wheat and cloth. In one day country A can produce either 12 units of wheat or 3 units of cloth, while country B can produce 4 units of wheat or 2 units of cloth. Which of the following statements is not true?

8. Is the exchange of goods and services between and among countries.

9. Organizational Culture is_____

10. An increase in Mexico's demand for United States goods would cause the value of the dollar to do which of the following?

11. The loanable funds market is best described as bringing together

12. Which one of the following is not an aim of Regional Trade Block.

13. Which country had FTA with Vietnam before CPTPP?

14. What is the infant industries argument for government intervention in international trade?

15. Suppose the EU removes ALL tariffs, embargoes, subsidies, and quotes. What is MOST LIKELY to happen to the international value of the Euro?

16. What is absolute advantage of trade?

17. Which following is true?

18. The annual difference between a country's exports and imports is called what?

19. When a nation imports more than they export, that nation has a

20. What is the ability to produce a good by using fewer resources than any other country?

21. Which of the following would reduce a country's Economic Freedom of the World rating?

22. When we spend more foreign currency than we receive, then we get a foreign currency deficit.

International Trade Quiz 114 (25 MCQs)

Quiz Instructions:

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