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International Trade Quiz 14 (25 MCQs)

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1. Countertrade is most attractive to large, diverse multinational enterprises that can use their worldwide network of contacts to dispose of goods acquired in countertrading.
2. Benefits of international trade include the following except _____
3. What best describes a country's terms of trade? A the difference between the volume of its exports and its imports B the average price of its exports divided by the average price of its imports C the total value of its exports divided by the total value of its imports D the volume of its exports divided by the volume of its imports
4. Methods of protectionismA type of quota put in place by exporters. Often created because exporting countries would rather impose their own restrictions rather than risking worse terms
5. Contractual safeguards can be written into an alliance agreement to guard against the risk of opportunism by a partner.
6. A tax imposed by a government on goods and services imported from other countries that serves to increase the price and make imports less desirable, or at least less competitive, versus domestic goods and services
7. An advantage of a nation having a merchandise deficit is that this deficit allows
8. Before a supplier sends merchandise to a buyer, the supplier provides this document listing the quantity, value and specifications of the merchandise.
9. At the industry's long-run equilibrium, companies in monopolistic competition will earn _____ economic profit.
10. Which one gives additional revenue to the government?
11. A numerical limit placed on goods being imported
12. How could a country prevent a more efficient firm in another country from selling its televisions at a price below that of their country's firms?
13. What does FTA stand for in international trade? (Free Trade Agreement)
14. A prohibition on the import or export of a good to or from another country.
15. A visible import is _____
16. Why is it not realistic for a country to solely focus on producing a single good?
17. _____ ? _____ Imports, for instance, become more expensive, pushing up cost of many goods for everyday Americans. Companies that require imports have to pay more, increasing the costs of manufacturing. Americans planning on traveling abroad, likewise, will pay more than they otherwise would.
18. Balance of payment is measured as
19. What is a reason for trade protection?
20. Indonesia's cooperation with developed countries provides opportunities for the younger generation to become knowledgeable and proficient in the field of technology. From the illustration, the benefits of international trade are_____
21. The equilibrium real interest rate in US increases to 5 percent while the equilibrium real interest rate in China remains at 3 percent. As a result, financial capital will flow from
22. Australia has played an instrumental role in achieving recent WTO outcomes, such as the Trade Facilitation Agreement.
23. All of the following are means to restrict international trade EXCEPT:
24. McDonalds is an example of _____
25. How does foreign ownership of land and houses affect Australians?
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