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International Trade Quiz 139 (25 MCQs)

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1. Which organization settles exchange rate problems?
2. When choosing the appropriate terms of delivery, deciding factors which seen from the seller's perspective include:except
3. The United States sends a shipment of pineapples to France, who then sends a shipment of tea to the United States. Which of the following correctly identifies Imports and exports of the United States?
4. T or F:international trade allows countries to expand their markets
5. Which of the following is an example of a trade agreement?
6. Which of the following would NOT benefit from the protectionism policy?
7. A group of countries which come together because they share a common goal is a
8. A balance of payments surplus on the current account is significant because it may mean the economy may have to
9. What percentage of Australia's income is sourced from exports?
10. International trade is most likely to generate short-term unemployment in:
11. _____ may not be a benefit of trade.
12. The major international economic problem is winners and losers in the trade industry
13. In charge of handling used or damaged goods
14. Which of the following is a tax levied on land and buildings, and sometimes boats and cars? It is also a key source of revenue for local governments.
15. According to economists like Adam Smith, who benefits from free trade?
16. Internationl trade-oriented jobs have grown 3 times the growth of U.S.-dependent jobs.
17. Which of these international trade concepts results in specialization and trade increases in total world output (as seen in the economic concept of opportunity costs)?
18. What is the primary drawback of open account (trade credit) terms in international trade?
19. A country says that it wishes to increase its trade protection policies. What might that involve? A conservation of resources and taxes on external costs B eliminating waste in the use of resources and grants to multinational companiesC increased self sufficiency and increased tariffs D price controls and increased regulations on domestic monopoly industries
20. The principle objective of PATA is to safeguard the interest of the travelling public and to maintain high ethical standards within the travel trade.
21. Suppose, the real interest rate increases by 3%, the domestic inflation is 4% and the foreign inflation is 2%. How much will the nominal exchange rate change? $%\Delta e=%\Delta\epsilon\ +\ \pi_{f\ }-\pi_d$
22. Explain the concept of cultural diffusion and its impact on globalization.
23. Two countries will still exchange through international trade even if one country has all the advantages
24. GDP is the abbreviation of _____
25. Which country is the member of AFTA?
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