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International Trade Quiz 124 (30 MCQs)

Quiz Instructions

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1. Goods and services that a country produces and sells to other countries
2. A complete ban on the import or export of products to a particular country:
3. Goods and services moved by
4. 'Difference of natural resources' is an important basis of interanational trade. Which of the following factors doesn't explain difference in natural resources?
5. If a country does not have a particular item, they may do .....
6. A country that imposes health and safety measures on imports is enforcing a(n)
7. If Slovenia is a small country in world trade terms, then if it imposes a large series of tariffs on many of its imports, this would
8. When imports exceed exports, a nation is said to have a .....
9. What can an importer do to secure itself when making an advance payment to the supplier?
10. Which is the most traditional and well established form of operating in foreign markets?
11. Following are the driving factors for international trade for importing countries:
12. Barrier to trade that limits the amount of goods or services that can be imported
13. In charge of locating goods in transit
14. An autarky point is.....
15. The Size of the market is relatively larger than that of domestic
16. If the value of intra-industry trade index (T) is T=1
17. When the exchange rate rises what happens to the demand for imports?
18. What is the term for financial or technical assistance given to a country, often by a foreign Government or Charity?
19. Hand chains made by Bahama glama sold in Macy's
20. When a nation's economic policy protects infant industries, hurts domestic workers, labor standards are not the same, and to protect national security.
21. Trust Receipt is a financing available to importers (buyers) only.
22. A balance of payment (BOP) shows the monetary transactions in visible and invisible trade between a country and the rest of the world over a period of a year. Transactions are marked either as .....
23. When will the imposition of a tariff by a country on the goods and services of its major trading partners reduce the country's expenditure on imports? A when the income elasticity of demand for imports is greater than 1 B when the price elasticity of demand for imports is greater than 1 C when the price elasticity of demand for imports is less than 1 D when the price elasticity of supply of imports is greater than 1
24. When can a shipment be placed on Temporary Admission?
25. Both tariffs and import quotas raise domestic prices, reduce the welfare of domestic consumers, increase the welfare of domestic producers, and cause deadweight losses.
26. Australia exported more than $ 337 billion in goods and services in 2016, amounting to one fifth of our economic activity.
27. What organization was created in an effort to encourage free trade?
28. The impact of a dispute resolution decision at the WTO that has been completed is:
29. The US and Nigeria are having a dispute concerning regulations on cotton imports. Which group listed below will help settle this dispute?
30. What is the effect of a tariff on Producer Surplus?
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