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International Trade Quiz 123 (25 MCQs)

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1. Which of the following increased free trade among Canada, the United States, and Mexico in the 1990s?
2. What type of jobs were affected by NAFTA in the US, and were lost in massive numbers?
3. The General Agreement on Tariffs and Trade (GATT)
4. Foreign Direct Investments are investments by foreign firms in establishing or acquiring business to another country.
5. Trade agreements entered into by WTO member countries within a region (RTAs) must be notified to:
6. Answer this question on the basis of the following information about the cost ratios for two products _____ fish (F) and chicken (C) _____ in Singsong and Harmony. Assume that production occurs under conditions of constant costs and these are the only two nations in the world. Singsong:1F = 2CHarmony:1F = 4C In Singsong the domestic real cost of each chicken-
7. Newspaper headline: "The U.S. Government limits the amount of sugar imported into the U.S." This is an example of what trade barrier?
8. The infamous triangular trade was participated by Europe, Canada, and Africa.
9. What is a common barrier to international trade?
10. What's the best definition for customs?
11. An alliance is a way to bring together contrasting skills and assets that neither company could easily develop on its own.
12. Foreign Exchange Rate measures:
13. A country that is able to produce more has the
14. What are exports?
15. Welfare loss in an export subsidy
16. The UAE has a lot of _____ wealth.
17. Before establishing a business in a foreign country, it is not a need to make research, market survey and other product improvement because it involves high cost and risk.
18. Which of the following is true of Harmonized System Nomenclature?
19. Other than economic benefits from international trade, countries also transform their social and cultural practices.
20. When did CITES go into effect?
21. The condition of a shortage of skilled workers in a country so that it is unable to produce high quality and cheap goods is one of the drivers of international trade due to_____
22. The advancement of social media platforms impacts time-space convergence by (a).
23. What has trade formed within all countries?
24. A disadvantage of international trade:Currency exchanges when trading abroad can carry costs, potentially resulting in financial losses.
25. Most rural residents urbanize to cities because of the ease of transportation in the hope of getting better jobs than those from their areas of origin. This phenomenon is an example of the problem_____
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