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International Trade Quiz 55 (30 MCQs)

Quiz Instructions

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1. It's the authority or organization that controls the flow of goods in and out of a country. Customs authorities or officials collect the duties or taxes applied to imports and exports.
2. Over-production in developed countries may be released into the markets of developing nations, which undercuts domestic prices and domestic producers may be forced to leave the market. This is called .....
3. A concentration of suppliers and supporting firms from the same industry located within the same geographic area.
4. If there is a large increase in the number of Europeans traveling to the United States while US citizens' travel to Europe remains unchanged, which of the following is true
5. Which term describes the practice of a company setting up operations in another country?
6. When a country enters a free trade agreement, which of the following issues might be a problem they face?
7. Nations are almost always better off when they don't buy and sell from one another.
8. TRIPS regulations oblige WTO members to all of the followingEXCEPT:
9. In International licensing, the licensor is the domestic firm that allows the licensee to use its trademark or brand.
10. Economic activities carried out with foreign household economic actors are .....
11. Using protective tariffs and quotas is
12. Goods and services produced domestically and sold in other countries.
13. Criminal and terrorist organizations generate large sums of cash, which they need to channel into the banking, corporate and trade financial systems, and both banks and traders can innocently fall victim to such activity if not exercising due diligence. A frequently used technique is .....
14. Means of international transport
15. International trade is the exchange of ..... across international borders or territories, which could involve the activities of the government and individual.
16. What does unemployment mean? Choose from the following
17. Bulk purchasing is the purchase of large quantities for a price that is lower than the usual.
18. The WTO arised from the GATT, incorporating the following differences:
19. How has the EU promoted economic cooperation across Europe?
20. Which of the following is not a benefit of trade between nations?
21. Which of the following is an export of Jamaica? A a loan to Jamaica by the International Monetary Fund B Jamaican holidays taken by American tourists C dividends paid by a company in Jamaica to its American shareholders D sales of Japanese cars in Jamaica
22. Why does the US import most its clothing?
23. In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ in .....
24. True or False A protectionist is A person or policy advocating for the protection of domestic industries from foreign competition.
25. What is one limitation of the theory of comparative advantage regarding the assumption of specialization in producing a single good?
26. Any law that limits free trade between nations
27. The process by which people and economies around the world are becoming increasingly interconnected; the integration of national economies into the global economy.
28. In 1941, the US froze Japanese assets in America and stopped trading with them in response to Japan's invasion of French Indochina
29. Under a flexible exchange-rate system, the Indianrupee will appreciate against the Japanese yenwhen
30. Goods and services a nation sells to other countries
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