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International Trade Quiz 156 (25 MCQs)

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1. What might cause the balance on the current account of Mauritius to improve? A increased purchases of coffee from Kenya B increased transport of Mauritian goods in Greek ships C increased spending by Mauritians on holidays in South Africa D increased spending by tourists in Mauritian hotels
2. Who should export brooms?
3. Domestic industries may be hurt by trade and some industries may need to be maintained even if they are not cost effective for reasons such as national security or defense.
4. Organizational structures that are widely used in various organizations include_____
5. Who must sign a Bill of Lading?
6. With respect to the national saving and investment identity for any country, the quantity of _____ at any given time by savings must _____ for purposes of making investments.
7. A U.S. tariff on the import of sugar means that domestic producers of sugar
8. A trade agreement between 27 countries, using the same currency and allows open trade between those nations.
9. What invention significantly reduced the time and cost of moving cargo, contributing to the acceleration of international trade?
10. Combinations of output that the economy can possibly produce
11. When was liberalization started?
12. Cash grant is an example of a subsidy.
13. An Open Economy is one where
14. Tariffs are unambiguously pro-consumer and anti-producer.
15. What do teachers, doctors, tradesmen, miners, and farmers all have in common?
16. Which theory considers bullion as a part of the international trade
17. An advantage of international trade:International trade can also expose firms to new ideas and skills-for example, an MNC might bring new manufacturing skills to a developing country.
18. If the US and Britain have a zero current account balance, and the US inflation rate decreases relative to the inflation rate in Britain, how will US Exports, the US Current account balance, US RGDP and the FOREX Market for Dollar change?
19. Australia benefits from international cooperation to support an open global economy and to protect the stability of the global financial system.
20. Bringing in goods and services from another country.
21. ASEAN was formed in year _____
22. A country produces one product at a fast pace and can do what they do best and trade for the rest, this is called what?
23. Friedman states that the businesses should behave in an ethical manner and not engage in deception and fraud.
24. Question 4:True or FalseLetter of Credit is not only safer for exporters, but also less time-consuming than other methods of payment.
25. It is a restriction set by the government on the quantity of goods that can be exported out of a country during a specified period of time.
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