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International Trade Quiz 33 (30 MCQs)

Quiz Instructions

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1. Which of the following was instrumental in creating the global economy that exists today?
2. Regional trading block assosciated with trade in petroleum is .....
3. The growing increase in international trade along with the development of technology has fostered
4. Choose the incorrect statement.
5. Imagine that Russia banned the import of beef from Sweden, and in response, Sweden levied a 100 percent tariff on fish imported from Russia. These nations are probably involved in a(n)
6. When a nation produces some goods but also imports some goods,
7. Opposite of 'decrease'
8. Inflow of Goods and Service is called as
9. What is the balance of payments?
10. This benefit tends to increase at a much greater rate than the growth in world trade, helping boost technology transfer, industrial restructuring, and the growth of global companies.
11. South Africa can produce 1 barrel of oil using 3 units of land and can produce 1 karat of diamonds using 1 unit of land. On the other hand, Saudi Arabia can produce 1 barrel of oil using 1/2 unit of land and can produce 1 karat of Diamond using 6 units of land. Which country has comparative advantage in diamond production?
12. What is one of the main goals of the transportation and logistics industry related to international trade?
13. He food aid was distributed, , , , , , , , , , per family, with larger families receiving more
14. An advantage of international trade:Additional markets (i.e. markets abroad) allow firms to exploit more economies of scale-if the additional markets mean there's an increase in demand for their products.
15. A limit on the amount of a good that can be imported
16. A favorable balance of trade that occurs when a country's exports are greater than its imports
17. Following the imposition of a $ 4 per-unit tax in a competitive market, the seller's after-tax price falls from the original equilibrium price of $ 12 to $ 11. Which of the following statements relating to the imposition of the tax is true?
18. It's an example of a tariff measure according to the weight or volume, for example, USD$ 0.338 per kilo.
19. Country Z has a downward sloping domestic demand curve and an upward sloping domestic supply curve for widgets. In the absence of trade, the domestic price of widgets is P0. Now the country engages in trade, and the price for widgets is Pw. This is below the domestic price of P0. Which of the following will occur?
20. TWO (2) advantages of sale on open-Account basis to an exporter.
21. (a) determine the value of one currency in terms of another, influencing international trade.
22. The stages in the panel process for dispute resolution include, among others....., except:
23. What is International Trade?
24. When a country exports a lot more goods and services than they import, it causes job losses, a lower standard of living, and is bad for their economy
25. What doesn't a Packing list include?
26. Which two trades are intermediate between the producers and final comsumers?
27. Suppose, the nominal interest rate rises by 5%, the domestic inflation is 2% and the foreign inflation is 4%. How much will the real exchange rate change? $%\Delta\epsilon\ =%\Delta e\-\ \pi_{f\ }+\pi_d$
28. Which international organization aims to promote economic cooperation and integration among European countries?
29. After rationalisation the company was ..... and its order book was full.
30. Which of the following involves the transportation and delivery of goods?
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