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International Trade Quiz 161 (25 MCQs)

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1. One argument for protectionism is to prevent dumping. What is meant by dumping? A countries paying low wages to their workers to gain price advantage B countries providing poor working conditions for their employees to keep costs low C countries selling products abroad at less than the cost of production D countries selling products abroad that do not meet health and safety standards
2. _____ raise the standard of living of people.
3. A certificate certifying that the goods have been made to the buyer's specifications.
4. Money's attribute as a store of value also assures that funds received by sellers as payment for goods or services can be used to make purchases of equivalent value in the future.
5. Definition of Tactful
6. The entry of funds into a country when foreigners make purchases in the country's stock and bond markets
7. What is the main objective of an export tariff?
8. This document is considered as the "Formal Billing" or "Formal Demand for Payment"
9. Company which carries goods by road
10. Outflow of Goods and Service is called as
11. What is the national security argument for government intervention in international trade?
12. Which of the statements below does not accurately describe the theory of comparative advantage?
13. What are export subsidies?
14. Market introduction, market growth, market maturity, and sales decline are the four stages of the product life cycle.
15. The World Trade Organization (WTO) is a global organization, headquartered in _____, for dealing with trade between nations.
16. What is the purpose of the Sale of Goods Act in Canada?
17. What is the currency of the European Union?
18. What is the purpose of the United States-Mexico-Canada Agreement (USMCA)?
19. When U.S. goods cost less for foreign buyers, that means the dollar is _____
20. Measures to limit the increased import of goods, applied in the form of restrictions on the import of goods in relation to their quantity and (or) value (import quota), special duties levied in excess of import customs duty, or other measures aimed at limiting the increased import of goods.
21. How are imports decreased by the government?
22. Barriers regarding the number of units imported are called_____
23. U.S. exports decline.
24. Determine which country has the comparative advantage:Japan can produce 4 laptops or 12 phones Brazil can produce 1 laptop or 5 phones
25. Transit Tariff is a tax levied on goods passing through the country.
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