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International Trade Quiz 130 (25 MCQs)

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1. What is the main goal of a free trade agreement?
2. Which of the following is the value of the output produced by a unit of labor or capital?
3. The condition that exists when someone can produce a good or service using fewer resources than someone else.
4. The Philippines is the world's second-largest producer of _____ Hence, our country has the absolute advantage in Asia when it comes to producing this product.
5. The followings are true statements about the relation between interest rate and trade balance except
6. A quantity of goods or services a country can sell
7. The Chinese government gave billions of RMB to support the e-car industry. What type of trade barrier is it?
8. The United States buys coffee beans from Brazil. This is an _____
9. State activities to bring in goods or services from abroad are called_____
10. An invisible Export is _____
11. A major cost of freer trade from poor nations is that they will
12. The activity of selling goods from within the country to abroad is called_____
13. Japan can produce either 90 cars or 110 pounds of soybeans and South Korea can produce either 50 cars or 80 pounds of soybeans. Which of the following statements is true?
14. What encourages international specialisation? A a foreign exchange shortage B diseconomies of scale C free trade D quotas
15. The driving factor for international trade for a country is_____
16. Which of the following can be done with international trade?
17. Following is the reason underlying trade between nations:
18. Based on GATT provisions, a product is said to be dumped when_____
19. Why was the Chinese steel industry facing a crisis?
20. Formulates overall policies and strategies for Small and Medium Enterprises (SMEs) and coordinates the implementation of SME development programmes across the Ministries and Agencies.
21. An invoice is issued by the seller to the buyer.
22. How many regions of the world are included in the Perroni-Whalley model?
23. How can the benefits of international trade extend beyond the buyers and sellers in trade transactions and benefit a whole country?
24. The first assumption in Comparative Advantage Theory:The world consists of _____ nations, each using _____ input to produce _____ commodities.
25. An economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners.
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