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International Trade Quiz 25 (25 MCQs)

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1. Government policies that restrict trade
2. What does the acronym APEC stand for?
3. The following are valid reasons for state's interference in international trade except
4. _____ intelligence is becoming bigger in our world.
5. Which country is making a successful transition to market economics and is emerging as the world's second-largest economy?
6. To promote, assist and develop Malaysias external trade with particular emphasis on the export of manufactured and semi manufactured products and on selective basisi, imports.
7. Which of the following is a form of trade barrier?
8. What is the term for a country's total value of exports minus its total value of imports?
9. Mexico, USA, and Canada are part of
10. The seller sends the goods to the buyer's warehouse and all costs for shipping the goods are the responsibility of the seller, called delivery_____
11. According to the 1986 Uruguay Round, the _____ implement the GATT agreement.
12. Setting export goods (prices of goods abroad) cheaper than domestic prices
13. _____ are government-imposed restraint on the flow of international goods or services.
14. When determining comparative advantage, one must determine _____ by looking at what I can produce after specialization.
15. Identify the formula of intra-industry trade index
16. _____ is this is associated with persons who only work to achieve a particular goal; and then leave the work scene.
17. A tariff is an _____ on the dollar value, or quantity of an imported good.
18. Industrialised countries X and Y trade with each other. Country X imposes a general tariff of 20% on imports from country Y. In which circumstances would the imposition of the tariff be unfavourable to country X? A if country X is seeking to protect its infant industries B if country X lacks the capacity to produce import substitutes C if imports from country Y have been dumped in country X D if imports of manufactured goods from country Y are price elastic
19. If a major economy with a trade deficit were to take action to increase exports, this could mean
20. A legal document between the shipper and carrier detailing the type, quantity and destination of the goods being carried.
21. Top management should also be viewed as part of the firm's infrastructure.
22. Who formulated Conventional International Trade Theory that is used to recognized countries as trading partners?
23. Having a trade surplus means the country exports more than it imports, while having a trade deficit means the country exports less than it imports.
24. Lampung can produce coffee efficiently and cheaply and West Java can produce rice efficiently. Then the two regions trade between regions. The factors driving trade between regions in the description above are _____
25. What is the specialization of Japan?
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