This quiz works best with JavaScript enabled. Home > Finance > Economics > International Economics > International Trade > International Trade – Quiz 133 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books International Trade Quiz 133 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Physical control to ban the imports of certain goods because of economics, social and politics is known as A) Quota. B) License. C) Embargo. D) Tariff. Show Answer Correct Answer: C) Embargo. 2. Type of trade barrier that places rules on quality of products A) Embargo. B) Subsidy. C) Standard. D) Tariff. Show Answer Correct Answer: C) Standard. 3. What do businesses need to import from the EU and export to the EU? A) FIORI number. B) EORI number. C) GIORI number. D) CAT number. Show Answer Correct Answer: B) EORI number. 4. Which country is a leading exporter of insurance services? A) United States. B) Germany. C) China. D) Great Britain. Show Answer Correct Answer: D) Great Britain. 5. If the U.S. dollar is strong compared to the Japanese yen, then the dollar buys A) More in the United States than the yen buys in Japan. B) More in Japan than the yen buys in the United States. C) Less in Japan than the yen buys in the United States. D) Less in the United States than the yen buys in Japan. Show Answer Correct Answer: B) More in Japan than the yen buys in the United States. 6. According to the method of payment as bank transfer, what are the role of banks? A) (A) Money transfer. B) (B) Document handling. C) (C) Payment guarantee. D) Only (A). E) Only (A) & (B). Show Answer Correct Answer: D) Only (A). 7. Foreign trade creates ..... among countries A) Conflicts. B) Cooperation. C) Hatred. D) Both a & b. Show Answer Correct Answer: B) Cooperation. 8. A note or ..... is provided stating the total nominal value of the goods shipped. A) Invoice. B) Application. C) Payment. D) Deal. Show Answer Correct Answer: A) Invoice. 9. Taxes on goods entering a country A) Trade taxes. B) Embargo. C) Trade surplus. D) Tariffs. Show Answer Correct Answer: D) Tariffs. 10. It is one of the seven themes of international economics where an exchange of goods and services between countries almost always result to mutual benefit A) The Gains from Trade. B) The Balance of Payments. C) The International Capital Market. D) The Pattern of Trade. Show Answer Correct Answer: A) The Gains from Trade. 11. New capital outflow refers to which of the following A) The difference between the prime rate and the discount rate. B) The difference between the amount of foreign assets purchased by domestic investors and domestic assets purchased by foreigners. C) The difference between exports and imports. D) The difference between private debt and public debt. E) The difference between the amount of foreign assets purchased by public entities and the amount purchased by private entities. Show Answer Correct Answer: B) The difference between the amount of foreign assets purchased by domestic investors and domestic assets purchased by foreigners. 12. An international bank that offers low-interest loans, advice, and information to developing nations; an agency of the United Nations. A) World Trade Organization. B) World Bank. C) United Nations. D) NAFTA-USMCA. Show Answer Correct Answer: B) World Bank. 13. Which factor is NOT typically considered when selecting a business location? A) Cultural preferences. B) Labour costs. C) Access to markets. D) Currency exchange rates. Show Answer Correct Answer: A) Cultural preferences. 14. This department solves problems with hardware and software in a company A) Department at. B) HR department. C) IT department. D) None of above. Show Answer Correct Answer: C) IT department. 15. Name the parties who form the main players in Islamic international trade A) The manufacturer, The shipping company for airline/logistic which transports the goods, the cleaner, exporter, importer, banks. B) The manufacturer, The shipping company for airline/logistic which transports the goods Government bodies, exporter, importer, banks, the solicitors. C) Government bodies, The solicitors who may be involved the contracts, the manufacturers, the supplier, cleaner, banks, importers and exporters. D) All the above. Show Answer Correct Answer: B) The manufacturer, The shipping company for airline/logistic which transports the goods Government bodies, exporter, importer, banks, the solicitors. 16. Indonesia's export commodities originating from agricultural products are..... A) Rubber latex. B) Plywood. C) Rattan. D) Sandalwood. Show Answer Correct Answer: A) Rubber latex. 17. A trade deficit represents an inflow of domestic currency to foreign markets. This may also be referred to as a negative balance of trade (BOT). A) FALSE. B) TRUE. Show Answer Correct Answer: A) FALSE. 18. The US produces goods and sells them to another country. These goods are called A) Imports. B) Exports. C) Comparative production. D) None of above. Show Answer Correct Answer: B) Exports. 19. What is considered the direct economic cause of the US-China trade war mentioned in our presentation? A) Ineffective soft The US's diplomacy with China. B) The trade deficit between the US and China. C) All of above. D) The consequence of China's strong rise. E) None of above. Show Answer Correct Answer: B) The trade deficit between the US and China. 20. When a government orders a complete ban on trade with another country, that is an example of a/an A) Tariff. B) Quota. C) Embargo. D) Non export. Show Answer Correct Answer: C) Embargo. 21. What has the country done as an anti-dumping measure? A) Putting tariffs. B) Trade barriers. C) Both A&B are correct. D) Both A&B are incorrect. Show Answer Correct Answer: C) Both A&B are correct. 22. What Goal of the transportation and logistics industry focuses on achieving a reliable and efficient supply chain? A) Resource management. B) Inventory control. C) Customer satisfaction. D) Cycle time reduction. Show Answer Correct Answer: B) Inventory control. 23. One argument for protectionism is to prevent dumping. What is meant by dumping? A countries paying low wages to their workers to gain price advantage B countries providing poor working conditions for their employees to keep costs low C countries selling products abroad at less than the cost of production D countries selling products abroad that do not meet health and safety standards A) B. B) A. C) D. D) C. Show Answer Correct Answer: D) C. 24. ..... raise the standard of living of people. A) International trade. B) Domestic trade. C) Local Trade. D) None o theabove. Show Answer Correct Answer: A) International trade. 25. A certificate certifying that the goods have been made to the buyer's specifications. A) CERTIFICATE OF ORIGIN. B) CERTIFICATE OF SALE. C) CERTIFICATE OF MANUFACTURE. D) None of above. Show Answer Correct Answer: C) CERTIFICATE OF MANUFACTURE. 26. Money's attribute as a store of value also assures that funds received by sellers as payment for goods or services can be used to make purchases of equivalent value in the future. A) FALSE. B) TRUE. Show Answer Correct Answer: B) TRUE. 27. Definition of Tactful A) Delay (until a later date). B) Careful about what you say so that you don't upset or embarrass anyone. C) Pretend something in order to achieve what you want. D) Let the other person have something in order to achieve an agreement. Show Answer Correct Answer: B) Careful about what you say so that you don't upset or embarrass anyone. 28. The entry of funds into a country when foreigners make purchases in the country's stock and bond markets A) Foreign Portfolio Investment. B) Quota. C) Free Trade. D) Currency Appreciation. Show Answer Correct Answer: A) Foreign Portfolio Investment. 29. What is the main objective of an export tariff? A) To protect domestic producers. B) To encourage exporting. C) To discriminate against exporting. D) To ban the export of a good. Show Answer Correct Answer: C) To discriminate against exporting. 30. This document is considered as the "Formal Billing" or "Formal Demand for Payment" A) Purchase Order. B) Delivery Receipt. C) Proforma Invoice. D) Commercial Invoice. Show Answer Correct Answer: D) Commercial Invoice. ← PreviousNext →Related QuizzesInternational Economics QuizzesEconomics QuizzesInternational Trade Quiz 1International Trade Quiz 2International Trade Quiz 3International Trade Quiz 4International Trade Quiz 5International Trade Quiz 6International Trade Quiz 7International Trade Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books