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International Trade Quiz 158 (25 MCQs)

Quiz Instructions:

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1. Trade Remedies is_____
2. _____ is an increase in the value of one currency regarding another currency. .
3. Pakistan is self sufficient in _____
4. A country can have an increased surplus in itsbalance of trade as a result of
5. Who developed the specific factors model?
6. It is the production of a product when it is more efficient than any other country in producing it
7. Which of the following determines the volume of trade between two countries?
8. Absolute advantage theory points out the followings except
9. What year did Netflix expand from being a U.S.-only company to streaming in 50 different countries?
10. What principle or theory argues that it is in a country's best interests to maintain a trade surplus?
11. Into what did European countries enter because of good economic relations?
12. Comparative advantages can influence, but do not fully determine, a nation's competitiveness.
13. The international product life cycle theory stresses that
14. What would a positive or negative balance of trade say about the economy of a country
15. _____ payments as soon as they're due and charge interest on late payments.
16. Which of the following is NOT one of the main instruments of tradepolicy?
17. Which of the following is best defined as the policy that decreases the costs ofbringing products to markets throughout the world by lowering or eliminating tariffsand deregulating?
18. What is thought to be a benefit of global free trade? A It increases the opportunity for domestic producers to specialise. B It increases the protection for domestic producers. C It reduces a country's reliance on other countries. D It reduces the transport costs involved in trading.
19. An advantage of international trade:International trade, which is the exchange of goods and services between countries (i.e. imports and exports), can give countries access to resources and products they otherwise wouldn't be able to use-countries can export goods in order to import the things they can't produce themselves. For example, the UK exports goods so that it can import things such as tea, rice and diamonds.
20. In an FTA between US, Canada and Mexico, the best option for Canada is to:
21. If some industries exhibit internal (firm specific) increasing returns to scale in each country, we should not expect to see
22. What are tariffs and trade barriers?
23. Saudi Arabia has large crude oil reserves, and Bangladesh has a large pool of skilled workers. These are both examples of _____
24. Since NAFTA was established, unions have primarily focused on which concern?
25. Multinational companies are typically large companies. What problems can occur?
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