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International Trade Quiz 127 (25 MCQs)

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1. _____ are given by government to ensure its products produced in their country would cost less and are more competitive than those from other countries.
2. For the _____ advantage to accrue, undertaking the business activity must be more profitable overseas than undertaking it locally.
3. _____ involves investments offunds abroad in exchange for financialreturn.
4. Which of the following is one way that a few firms can gain some control over their market?
5. What would not be included in the current account of the balance of payments? A dividends earned from a firm in another country B imports of TVs from another country C purchase of a house in another country D rents paid to owners of land in another country
6. Trade is a manifestation of economic activity since it involves these activities except
7. Headquarter of ASEAN is _____
8. Items transported into a country from a foreign country
9. Roughly how many species does CITES protect total?
10. True or False:Factor endowments are not static and can change over time.
11. Corporations such as Ford Motor Company, Shell Oil Company, and British Petroleum, which produce and sell products in different countries, are called
12. Mercantilism is an economic philosophy advocating that countries should simultaneously encourage imports and discourage exports.
13. Product differentiation in economics is known as _____
14. With international trade, it is best for a country to have a
15. International trade will bring more unemployment issues due to the local producers close their operation because not being abble to compete with the imported goods.
16. Australia's top export category is:
17. Trade agreement with more than two nations who have similar trade interests
18. If a country allows trade and the domestic price of a good is higher than the world price:
19. Which country has been banned from doing business with the United States?
20. Explain 4 types of method in international trade
21. Country A is giving good price for your raw material but transport cost is very high.Country B is charging slightly higher price but transportaion charges are very less.Which country would you prefer
22. Positive-Sum Game is a situation in which a gain by one country results in a loss by another.
23. MFN and NT principles apply in:
24. Select the features of International trade
25. Goods and services bought from other countries
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