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International Trade Quiz 47 (25 MCQs)

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1. What is the term for when two companies join together for mutual gain in a collaborative business venture they own jointly?
2. Goods produced in one country, then shipped to another region or country
3. What is the World Bank Group's main goal?
4. Taxes on the import or export of goods from a country
5. When two countries engaged in free trade benefit, this means that everyone in both countries benefits.
6. A tax on imported goods designed to protect domestic producers from foreign competition; a type of trade barrier.
7. Which countries are most directly affected by NAFTA?
8. The total market value of all final goods or services produced in a year.
9. What is the term for a transaction in which one company buys another company?
10. Nation 1 is K-abundance and Nation 2 is L-abundance
11. The table below shows the production alternatives of Country A and Country B for producing computers and cars with equal amounts of resources that are fully and efficiently employed.Country _____ Computers _____ CarsA _____ $\rightarrow$24 _____ $\rightarrow$12B _____ $\rightarrow$ 45 _____ $\rightarrow$ 15
12. If nations limit trade of clothing who will benefit?
13. When did Vietnam join WTO?
14. A person or organization that brings goods or services into a country from abroad for sale.
15. Exports cause money to _____
16. The price of one nation's currency relative to another's
17. Gross National Product (GNP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.
18. Maxicopolis can produce 100 bushels of wheat or 100 yards of cloth. Minicopolis can produce 100 bushels of wheat or 300 yards of cloth. Which city has a comparative advantage in the production of cloth?
19. This is an extremely useful tool for thinking about the reasons why trade may happen and about the effects of international trade on national welfare.
20. In 2012 the UK held the Olympic Games which attracted a large number of visitors from foreign countries. Which item of the UK's current account balance will have benefitted directly from this event? A export trade in goods B export trade in services C import trade in goods D import trade in services
21. _____ keeps only samples in the shop
22. The trade deficit with China has been decreasing in recent years as their economy grows, providing the citizens with more disposable income with which to purchase imported items coming from the U.S.
23. The opportunity for Indonesian products to penetrate the international market is very large because it is supported by_____
24. Why were tariffs created?
25. Why might businesses be cautious about giving Credit terms in international trade?
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