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International Trade Quiz 27 (25 MCQs)

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1. The president Trump has enacted tariff barriers China against China and a lot of people worried that China might retaliate and enact the same tariff barriers? This event involving:
2. For the same question above (Japan can produce either 90 cars or 110 pounds of soybeans and South Korea can produce either 50 cars or 80 pounds of soybeans.) What will be the right range of terms of trade for the two countries to be willing to trade?
3. The theory of absolute advantage measures a nation's wealth by determining the _____
4. Question 3:Export/Import financing in which a bank acts as an intermediary without accepting financial risk is called _____
5. Is principle refers to the ability of a party (an individual, firm, or country) to produce more of a good product or service than competitors, using the same number of resources
6. The United States government raises the tariff on television sets to make the foreign sets sell for 10% more than those produced in America. Which of the following would result from changing tariff on these products?
7. Which industry is responsible for enabling international customers to purchase goods from abroad?
8. _____ is a function of international trade whereby goods produced in one country are shipped to another country for future sale or trade.
9. One of the following must be used as a starting point in order to perform an analysis that will determine what the connections between imbalances of trade in goods and services and the flows of international financial capital are. Which one is it?
10. India signed a free trade agreement with
11. What is the extra profit that producers make when supply is artificially limited by an import quota called?
12. _____ are taxes on _____
13. What is one limitation of the theory of comparative advantage regarding the assumption of constant technology?
14. The second assumption of Comparative Advantage Theory:In each nation, _____ is the only input.
15. Which organization placed an embargo on the sale of oil to the US in 1973 as a way to punish the US for its support of Israel in the Yom Kippur War?
16. Special tax placed on foreign goods sold in the United States
17. ANLA, in Colombia, has authorised the piloting of fracking, sustaining that it is acting in _____ with the _____ law.
18. International Trade Policy (export sector), except
19. The ability to produce a good by using fewer inputs or by creating more outputs than another producer
20. In 2015, China was the world's largest exporter of manufactured goods and a major importer of oil and minerals. China devalued the yuan (renminbi) by 2%. According to economic theory, what would have been a consequence of this devaluation? A China paid less in foreign currencies for imports. B China reduced its demand for oil and minerals. C China's exports became less competitive. D China's trading partners improved their balance of trade with China.
21. Which of the following international trade and commerce activities is related to logistics and transportation?
22. Countries usually impose restrictions on free foreign trade to _____
23. _____ is the earliest theories on international trade.
24. What is the name for the difference between a country's exports and imports of goods and services?
25. How has globalization created opportunities for e-commerce businesses?
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