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International Trade Quiz 140 (25 MCQs)

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1. The U.S. controls imports through the U.S. Customs Service, which is a division of the _____ Department.
2. Included in Plurilateral Trade Agreements are_____
3. When the world equilibrium price is above or > the domestic equilibrium price _____
4. Who should export wands?
5. How can businesses adapt the product in different countries?
6. What is one way the government helps those who are harmed by international trade?
7. Which is not the aim of international trade policy_____
8. Large-scale entry is a way to gather information about a foreign market before deciding whether to enter on a significant scale and how best to enter.
9. A nation's ability to produce a product at a lower opportunity cost than another country is referred to as what?
10. Country A can produce 10 apples or 3 oranges.Country B can produce 12 apples and 3 oranges.Which country has an absolute advantage?
11. The process by which businesses or other organizations develop international influence or start operating on an international scale
12. Which organization regulates the production, pricing, and marketing of petroleum?
13. The United States trade deficit causes
14. Taxes on imported goods that minimize the price advantage they have over domestic goods are called
15. Which of the following is not the reasons for importing the category of product
16. During the Financial crisis in 2008, The collapse of New York stock exchange, The government took over some collapsing private companies by providing financial assistance to it. What is the type of economy in this kind of situation?
17. Which of the following is a treaty which eliminated all trade barriers between Canada, Mexico, and the United States?
18. Consumers benefit from imports because they cause the
19. What was Adam Smith's reason for recommending free trade-that is, international trade with no tariffs or other governmental barriers to trade?
20. The condition that results when the value of a nation's exports is greater than the value of its imports is called _____
21. How many members does WTO has?
22. The _____ sector is the largest industrial sector in Pakistan.
23. The price of the catalogue is _____ against your first order.
24. A tariff is a tax on
25. What is the auxiliary to past simple?
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