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International Trade Quiz 152 (25 MCQs)

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1. Aggregate productivity is a key determinant of the nation's ( ).
2. England, France, Belgium and 12 other countries belong to a trading bloc called the _____ Union.
3. Mercantilism is an economic theory that advocates government regulation of international trade to generate wealth and strengthen national power
4. How has international trade increased the quality and productivity of manufacturing as stated in the presentation?
5. What is not a method the USA carries out foreign policy?
6. Globalisation is good because of an _____ in standard of living, but is bad because there is a _____ in local cultures and traditions
7. Labourers are less mobile between countries.
8. The condition that exists when someone can produce a good or service at a lower opportunity cost than someone else.
9. What is the purpose of NAFTA?
10. Other countries can undermine unilateral trade sanctions.
11. Assume that the terms from trade are 1.5 coffee for 1 tea. Who benefits from this trade?
12. A vendor of parts or services for another company
13. What is the purpose of promotional techniques in different countries?
14. What has historically played a major role in the economic development of the Australian economy?
15. What reduces the tendency toward specialization?
16. The difference in value between a country's imports and exports.
17. The financial risks are generally intimately connected to the structure of the _____
18. What happens when a country's currency appreciates?
19. What is the term for a government policy and laws restricting international trade?
20. A limit on the amount of a good that can be purchased from a foreign nation.
21. Companies such as Coca-Cola and Disney have achieved growth through:
22. International trade means trade between _____
23. To conduct training or other programmes relating to productivity, quality, management and entrepreneurship;
24. Which of the following wrong about benefit of International Trade?
25. What is one limitation of the theory of comparative advantage regarding the assumption of perfect information about prices and quantities in the market?
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