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International Trade Quiz 120 (30 MCQs)

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1. The following are considered Remittance Modes of Payment except .....
2. Which one of the following is a main feature of a customs union
3. Which of the following was NOT a goal of the GATT as stated in the presentation?
4. Definition of Bargaining
5. 2/What is the ambiguous effect on external economies?
6. What are important details to consider when determining Duty and Tax rates for goods?
7. Trade based on external economies has a/an ..... on national welfare.
8. One of the BRICS, characterized by its young growing population, abundant natural resources and manufacturing industry
9. When the dollar falls in relation to foreign currencies, American consumers can buy imported goods more cheaply.
10. Rules used to try to limit trade with other countries
11. ..... is known as a tax levied on goods passing through the country.
12. The least affected sectors were:agriculture, livestock, hunting, forestry and fishing?
13. Which of the following scenarios would cause the nation's money supply to increase?
14. The principle that provides flexibility for member countries of the group of developing countries to provide mutual benefits is called:
15. Experts in the details of exporting goods
16. In a freely floating exchange rate system the exchange rate of a currency is determined by
17. The dual ownership arrangement may lead to conflicts. What is it?
18. Government imposed limit on the quantity of a good or service that can be sold (imported) in their country
19. Was established in 1945
20. True or False A quota is A limit on the quantity or value of goods that a country can import.
21. An example of trade liberalisation is:
22. Scottish economist who contributed the theory of Absolute advantage
23. For any means of transport
24. The recent world recession has resulted in a decrease in spending by tourists visiting the US. How would this be recorded in the current account of the US balance of payments? A a decrease in services exported B a decrease in services imported C an increase in services exported D an increase in services imported
25. The economy performs best with targeted government intervention to ensure 3% economic growth per year
26. A US car dealer agrees an import price of US$ 25 000 for a Japanese car at the current rate of exchange. The US dollar then strengthens by 10% against the Japanese yen. What will be the new import price paid for the Japanese car? A US$ 20 000 B US$ 22 500 C US$ 25 000 D US$ 27 500
27. General exceptions in trade in goods include, among others, those related to....., except:
28. What are payments the government gives to some businesses to make up for their losses called?
29. A country has experienced a devaluation of its currency.What are the likely results of the devaluation?
30. 'The absence of restrictions to the flow of goods and services among nations.' Which of the following is referring to this phrase?
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