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International Trade Quiz 18 (25 MCQs)

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1. How does inflation rate affect currency value/exchange rate?

2. To focus on producing one thing or specific product and to improve productivity is known as:

3. What is exchange rates?

4. A trade agreement between approximately 28 countries. The participating countries agree to use the Euro as their currency, open their borders and have free trade.

5. Free trade refers to a situation where a government does not try to influence what its citizens can buy from global markets.

6. The government's policy of reducing the value of the domestic currency relative to foreign currency is called_____

7. International business involves the buying and selling of products or services between countries.

8. These are the agreements between two (2) or more partners designed to capture gain from trade beyond those agreements currently attainable under WTO treaties.

9. Many businesses move their headquarters to try and avoid paying taxes in their home country.

10. Japan will trade electronic equipment for goods in other countries as long as

11. Question 1:The bank that adds its confirmation to a credit upon the issuing bank's authorization or request is called _____

12. Imports cause money to _____

13. In what year did Starbucks experience a significant number of store closures in Australia?

14. Is there any disadvantage to a government subsidizing domestic firms to make them able to compete in price with cheaper imported goods?

15. HO (factor-proportions) stated that countries traded completely specialize in the good in which they have a comparative advantage.

16. The rate a lender charges to a borrower for a loan, presented as a fixedpercentage of the total amount borrowed

17. A disadvantage of specialisation:Specialisation can lead to overreliance on one industry-if something happened to negatively affect that industry, it would have a severe impact on the whole economy.

18. The _____ for computers is very competititve.

19. Who has the comparative advantage for brooms?

20. What is Export Trade?

21. Infant Industries Argument suggests:

22. Dispute settlement competence at the WTO applies to the types of disputes as found in_____

23. Theory of comparative advantage was presented by

24. _____ is an investment that a company makes into another company by the way of acquiring shares or providing loans

25. A saving account in a bank represents the function of money:

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International Trade Quiz 18 (25 MCQs)

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