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International Trade Quiz 151 (25 MCQs)

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1. A nation's differences in values, culture, economic structures, institutions and history all contribute to competitive success according Porters diamond theory.
2. The key elements of MFN are:
3. Pakistan developed an FTA with Malaysia in _____
4. Foreign firms need to maintain a product quality based on the standard of each country they operate in.
5. International trade includes
6. Government rules that block or inhibit international trade between countries.
7. Revenue tariffs are
8. Leads to lower living standards
9. What has international trade and foreign policy not formed?
10. Trade between different regions or countries is called:
11. A Vietnamese shoe company imports all materials used to produce shoes from a Taiwanese company. It uses all of those materials to produce shoes and then exports back finished shoes to that Taiwanese company. This transaction is considered as
12. How are exchange rates primarily determined?
13. International trade is based on which of the following principles?
14. Resources available = 200 units for each country Production in GhanaCocoa = 10 tonsRice = 5 tons Production in South KoreaCocoa = 2.5 tonsRice = 10 tons Question:Which country should specialize in producing Cocoa?
15. In certain situations and conditions, the mechanism that can be used by WTO member countries to waive the implementation of WTO provisions based on the Marrakesh Agreement is called:
16. In 1999, the US announced trade sanctions worth $116.8 million, targeting goods from France, Germany, Italy and Denmark. The sanctions were in retaliation for a ban on US hormone-treated beef by which organization?
17. Which one of the following is a cause of globalisation
18. Which of the following period had experienced biggest fall in world manufacturing.
19. Assume that there are two countries, A and B, and that they can both produce two goods, X and Y. The theory of comparative advantage predicts that:
20. Country X trades with only two countries, Nigeria and Malaysia. 80% of Country X's trade is with Nigeria and 20% is with Malaysia. The original value of the trade-weighted exchange rate index is 100. The value of Country X's currency against the Nigerian Naira rises by 10%. The value of Country X's currency against the Malaysian Ringgit rises by 50%. What will be the value of Country X's new trade-weighted exchange rate index?A 115 B 118 C 130D 160
21. Outline type of risk that is unique to a country like Syria, North Korea or Egypt.
22. Economic and political risks can be lessened because risk is spread from different countries.
23. Native to a country, not foreign; relating to the life or affairs of a household.
24. Which country is not a part of ASEAN?
25. It is the existence and affordability of a communication and transportation network
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