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International Trade Quiz 117 (25 MCQs)

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1. What is the ideal situation for a country's exports and imports?
2. What does FDI stands for.
3. In a command economy, the basic economic questions are answered by:
4. Technological innovations in transportation and in communications has made it easier to move goods, information, and money around the world.
5. What are some examples of trade barriers that countries may use?
6. A Korean company supplies fabrics for a Vietnamese clothes company and requests the Vietnamese company to produce the finished products. The Korean company then pays the Vietnamese company for producing the final products. This transaction is considered as _____
7. The process used to describe the growing interdependence or connection of the world's economies, cultures, and population
8. What are tariffs in international trade?
9. What is the effect of a tariff on Consumer Surplus?
10. _____ is a direct restriction on the quantity of some good that may be imported into a country.
11. Which of the following is a characteristic of capitalism?
12. The definition of TRADE is _____
13. Factor endowment theory states that factors in great supply relative to demand will be more costly than factors in short supply relative to demand.
14. The difference between the money a country pays to, and receives from, other nations when it engages in international trade
15. Consider the following statements!1. There are differences in natural conditions2. There are differences in ideology3. Difference in the mastery of science and technology4. Globalization in all fields5. Religious differences between nationsWhich is the driving factor for trade between countries is _____
16. What is an argument supporting free trade?
17. All of the following would increase demand for a currency EXCEPT _____
18. What is the main benefit of international trade for consumers?
19. Which of the following is an example of transportation and logistics industry?
20. Tariffs are different from assigned import quotasin that tariffs will
21. A nation has a deficit in its international balance of trade when _____
22. Kochi and Karwar in India are examples of:
23. Members do away with duties and other trade barriers-they allow companies to invest freely in each member's country *ex. EU (European Union)
24. In India, _____ issues currency notes on behalf of the Central Government.
25. When a quota is imposed on a good,
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