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International Trade Quiz 35 (30 MCQs)

Quiz Instructions

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1. Which type of country is likely to have the biggest surplus in invisible trade?
2. An international organization based in Geneva that monitors and enforces rules governing global trade.
3. Local Content specifies the content of the material contained in an item that is released.
4. Measures the price of one nation's currency in terms of another nation's currency
5. Which is most likely to cause country X's exchange rate to depreciate? A an increase in country X's demand for imports B an increase in country X's interest rate C an increase in foreign demand for country X's exports D an increase in tourist visits to country X
6. A trading partner Australia currently has a trade tension with is:
7. In the exchange rate between the Euro and the Peso, if the supply of Euros increase, what happens in the Market for Pesos?
8. Which of the following is NOT one of the main instruments of trade policy
9. Unfortunately the recent takeover will result in a number of ..... at the plant.
10. IATA stands for International Asia Travel Association.
11. What is the action "to have control over a place or person" ?
12. The difference in value between a country's imports and exports is called its balance of trade.
13. Who is part of NAFTA?
14. Foreign firms could face problems in the domestic if they are not able to meet their standard.
15. A ..... is a group of countries that eliminate all tariffs on trade with each other but retain autonomy in determining their tariffs with nonmembers.
16. What did the U.S. government use to produce revenue before it imposed income taxes on its labor force
17. NAFTA is an agreement between all of the following countries EXCEPT
18. Sale of goods abroad at a price below their cost and below the price charged in the domestic market is a dumping.
19. In the formula of relative wage which stands for the wage rate in a foreign country?
20. Insurance agent.....
21. Over the last 50 years, trade between nations has decreased
22. Basic principle of GATT referred to the no discrimination
23. Which country is NOT the member of ASEAN?
24. Protectionism represents a serious risk to Australia's interests
25. What is a primary reason why businesses trade with emerging countries?
26. This person is in charge of the bookkeeping and payroll
27. This Development World Trading System was came after the originated country wherein GATT members embarked on their eighth round of negotiations to reduce tariffs.
28. What theme of international economics is relatively a new part of international economics and, for the most part, fixed by government action rather than determined by the marketplace?
29. Where there are economies of scale, an increase in the size of the market will
30. What theme of international economics has an associated special risk like currency fluctuations?
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