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International Trade Quiz 31 (25 MCQs)

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1. What is the flexible rate of exchange?
2. Which country is NOT the member of NAFTA?
3. If the Fed has low reserve requirements for banks that will
4. Command economy is different from market economy where _____ determines what to produce, how to produce and for whom to produce.
5. Once a currency is established, it stays the same and never changes.
6. Free Traders advocate for:
7. These are abstract ideas about what a group believes to be good, right, and desirable.
8. Which economic theory and political ideology is opposed to free trade and believes that each state must protect its own interests without seeking mutual gains through international organizations?
9. Trade agreements are made to help _____ the abiltiy to trade with other countries:
10. The _____ lists the goods being carried and must remain with the merchandise at all times.
11. If the United States has a balance of trade deficit, it means that
12. We have an _____ oil rig 10 kilometres away from the coast.
13. According to the text, what is the point on which most economists agree?
14. All of the following are benefits of international business except
15. Purchasing the right to use a company name or business process in a specific way ex. McDonald's, Burger King, KFC and Pizza Hut * *
16. Negative impacts of multinational companies include:
17. What is one limitation of the theory of comparative advantage regarding the assumption of producing identical goods?
18. What happens to imports when the value of the dollar increases?
19. Comparative advantages show:
20. The document that probes that a restricted type of goods is permitted to be imported is _____
21. Goods or services purchased from firms in other countries and brought into a country are called
22. In 2017, which economy was Singapore's largest trade partner for goods?
23. A ban on all trade.
24. With its given resources, Country X can produce either 200 computers or 800 handbags. Which of the following terms of trade will be beneficial to Country X if Country X exports handbags?
25. Brazil is a leading producer of sugarcane, and the United States is the leading producer of crude oil. Based on this information, why should Brazil trade with the United States?
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