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International Trade Quiz 115 (25 MCQs)

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1. The World Trade Organization (WTO) does not
2. How does this agreement negatively affect the U.S. economy? Use the information below to answer the question. Under the North American Free Trade Agreement (NAFTA), the last restrictions on U.S.-Mexican agricultural trade were removed in 2008. Between 2007 and 2008, the value of agricultural exports to Mexico increased by 23%, and the value of imports from Mexico increased by 26% for the main commodities that had been subject to those restrictions.
3. The foreign company is able to exercise full control over its operations in foreign countries. What is it?
4. What are the disadvantages of trade?
5. Which one of the following is a main feature of the Single European Market
6. Assisting developing countries in trade policy issues, through technical assistance and training programme
7. INTERNAL TRADE MEANS
8. A short term consequence of a more developed country investing in a less developed country includes the introduction of
9. Ports which are situated away from the sea coast are _____
10. According to David Ricardo, if a country produces cloth efficiently but with a high opportunity cost it should
11. What is the main benefit of international trade for domestic companies that export goods?
12. Imports are goods and services that one country sells to other countries.
13. What do you call the taxes or duties paid for particular class imports or export?
14. How many main risks in international trade?
15. According to Heckscher-Ohlin theorem, the quality of _____ of a country are its factor endowment.
16. How does the Fed seek to prevent inflation?
17. Trading one thing for another
18. Negative balance of trade where a countries imports exceed its exports
19. What is the definition of e-commerce?
20. Which of the following is NOT the tools of protectionism?
21. Which of the following is not included in an International Commercial invoice?
22. The Philippines' top exports are semiconductors and electronic components.
23. A government wants to use trade protection both to improve its trade performance and to raise government revenue. Which policy will help it to achieve this? A raising quotas on imported goods B raising subsidies on exported goods C raising tariffs on exported goods D raising tariffs on imported goods
24. Trade agreement which sets rules for trade and investment among Canada, Mexico and the United States
25. What is the main goal of the European Union?
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