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International Trade Quiz 35 (25 MCQs)

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1. A trade deficit is
2. Which of the following was the first international trade theory to account for changes in the patterns of trade over time?
3. Decisions issued by the WTO dispute settlement system are_____
4. In the Ricardian model, we can think of trade as _____ method of production.
5. International trading IMPORT-EXPORT What factors should you look at?
6. Why do changing exchange rates help one country and hurt the other?
7. Which of the following strategies involves increasing the supply of a product so much that its prices drops severely, forcing similar products out of the market?
8. Advantage of specialization by a country
9. Dollars = 6 British Pounds 10 dollars = 7 Swiss Francs2019-10 dollars = 4 British Pounds 10 dollars = 8 Swiss Francs Which country would see an increase in American travelers?
10. It makes it possible for each country to produce a restricted range of goods and to take advantage of economies of scale without sacrificing variety of consumption.
11. Opposite of 'increase'
12. The main promoter of trade liberalization and settlement of dispute
13. Which of the following is NOT a level of economic integration?
14. In an hour, David can wash 2 cars or mow 1 lawn, and Ron can wash 3 cars or mow 1 lawn. Who has the absolute advantage in car washing, and who has the absolute advantage in lawn mowing?
15. What is another way to accommodate a deficit in the balance of payments?
16. Trading partners who are signatories of the GATT, as most are, automatically receive MFN status.
17. If Maybank has an account in a Singaporean Bank, it is:-
18. Brazil is 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?
19. Marcopolo traveled from Europe to which country
20. The principle that a country benefits from specializing in the production at which it is relatively most efficient thus has the comparative advantage. This is true because of lower opportunity costs
21. It enables the managers to walk away from a decision that is profitable, but unethical.
22. If Spain can produce 10 tons of olives or 1 ton of olive oil and Italy can produce 5 tons of olives and 5 tons of olive oil, then
23. Is the wholesale and retail trades are the types of foreign trade?
24. Which model looks at the income distribution between countries that trade?
25. A union which promotes free movement of goods and workers across borders in Euroupean countries.
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