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International Trade Quiz 36 (25 MCQs)

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1. The tax that the United States imposes on imported carbon steel products is called a tariff.
2. According to Strategic Trade Policy, many developing countries have a potential comparative advantage in manufacturing, but new manufacturing industries cannot initially compete with established industries in developed countries.
3. Which theory listed below is also called the Heckscher-Ohlin theory?
4. One of Indonesia's export commodities produced from industrial businesses is_____
5. Intra-industry trade refers to while re-export refers to
6. In absolute advantage theory, with specialization, total world output will _____
7. International trade is also a branch of _____
8. From a macroeconomic perspective, if GDP economic indicators show a decline of 10% or more in a single year, then which of the following outcomes is most likely to result?
9. What is the term for a multinational corporation that makes, markets, and services products in different countries?
10. The following are shipping documents required for import-export custom clearance activities, except_____
11. International trade tends to encourage companies to be more competitive, thus forcing prices down and increasing quality
12. A nation's position in factors of production can lead to competitive advantage
13. What is the primary purpose of a Protective Tariff
14. TCO is the purchase price minus hidden costs (all cost elements of the product)
15. Resources available = 200 units for each country Production in GhanaCocoa = 10 tonsRice = 5 tons Production in South KoreaCocoa = 2.5 tonsRice = 10 tons Question:South Korea has the absolute advantage in producing which product?
16. A tax of 20 cents per unit of imported garlic is an example of a(n)
17. (a) kilometers of undersea cables carry the world's emails, searches, and tweets, facilitating global connectivity.
18. If a Canadian were visiting family in the United States, he/she would need _____
19. World Trade Organisation (WTO) was established in
20. General Agreement on Tariffs and Trade is a precursor of
21. According to the documentary collection, what are the role of banks?
22. Which theory argues that each country should produce and export products that intensively use relatively abundant factors of production, and import goods that intensively use relatively scarce factors of production?
23. United States is considered the _____ largest export
24. What is a benefit of international trade?
25. If the U.S. dollar depreciates relative to another currency, which of the following is most likely to occur?
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