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International Trade Quiz 30 (25 MCQs)

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1. In order to know whether a country has a comparative advantage in the production of one particular product, we need information on at least _____ unit labor requirements
2. What are some negatives of globalization? Check if all that apply.
3. If Sue can mow 3 yards or bake 2 cakes in a daywhile John can mow 1 yard or bake 1 cake in a day it can be said that _____
4. Xie Xiao Mei is responsible for the duty of international trade in a company. Which of the following items should Miss Xie manage?I Foreign exchange ratesII Customs clearance proceduresIII Product design and developmentIV FOB and CIF
5. When a country RECEIVES goods or services from other countries
6. What is not a problem do to trade?
7. A primitive system of trade where direct exchange of goods take place:
8. The US congress passed the Deep Water Royalty Relief Act in 1995, enabling US oil companies to drill on federal land without paying the government to do so.
9. The simple example of comparative advantage assumes:
10. If the United States imports $150 million of goods and exports $100 million of goods, what does the United States have?
11. A good partner is unlikely to try to opportunistically exploit the alliance for its own ends.
12. International trade takes place when market expands to get _____ that otherwise may not have been available to it.
13. Why do nations trade?
14. What is the purpose of devaluing a currency?
15. A trader of one country purchases any goods and products from the trader of any country.
16. Which term refers to the practice of selling goods abroad at a price lower than the domestic market?
17. Which of the following do International Trade laws tend to include?
18. The GATT design under the Us-led trade regime caused:
19. Efforts to resolve disputes between WTO member countries through a bilateral consultation process can be implemented through_____
20. Which of the following are weak due to the lack of human and financial resources?
21. Agreements between two countries are known as?
22. Countries have different rates of productivity due to their natural resources, climate, technology, labor costs, and other factors. This represents the country's comparative advantage.
23. This theory emerged in the 1980s and was based on the work of economists Paul Krugman and Kevin Lancaster.
24. Helps young domestic businesses across borders
25. Money that is used within a specific area or country
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