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International Trade Quiz 146 (25 MCQs)

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1. Which of the following is not part of the arguments about trade protection?
2. An official document issued by a government, certifying the holder's identity and citizenship and entitling them to travel under its protection to and from foreign countries.
3. Which concept explains why countries specialize in producing goods they have a lower opportunity cost for?
4. Permitting another party in a foreigncountry to produce and sell goodsunder your trademarks, patents orcopy rights in terms of goods _____
5. Papers and documents that companies must send to customers with their products to legally export or import goods are called:
6. Why do economists generally advise against using trade barriers?
7. What is the exchange rate when William exchanges his US dollars for euros?
8. _____ usually purchases on cash and sells on credit
9. Which of the following was NOT included in the original six members of the European Community?
10. Given that:In the production of 1 ton desiccated coconut, the Philippines uses 50 units of resources, and Sri Lanka uses 65 units of resources. In the production of 1 ton of tea, the Philippines uses 75 units of resources, and Sri Lanka uses 40 units of resources. In what products each country has absolute advantage on?
11. Goods intended for final use by customers rather than businesses are known as:
12. Which of the following results is NOT a way that trade can benefit all parties involved?
13. What benefit does international trade have on economic growth?
14. What is the first basic reason why countries trade with each other?
15. Which of the following is NOT a way money moves from one country to another?
16. _____ is the basic physical and organizational structures and facilities (e.g., buildings, roads, and power supplies) needed for the operation of a society or enterprise.
17. What is the acronym for Universal Federation of Travel Agents Association?
18. Which of the following allows for free movement of goods and services across countries
19. Exchange rate means
20. OPEC was established in year _____
21. Which of the following is an important factor to consider when calculating Transportation Costs?
22. _____ takes place when a company directly invests in properties such as plant and machinery in foreign countries with a view to undertaking production and marketing of goods and services in those countries.
23. All our experiences of International Trade in the Philippines EXCEPT
24. A trade agreement between Canada, Mexico, and the US, _____, has been a source of contention among many including our President.
25. Trade deficit refers to the situation where
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