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International Trade Quiz 55 (25 MCQs)

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1. Why is international trade not a zero-sum game?
2. Internal economies of scale are those that
3. International trade enables the company to minimize the cost by employing cheaper labor.
4. Which coordinates on a production possibility frontier graph are efficient?
5. Makes imported goods more expensive
6. The EU has barriers to trade within the EU?
7. Which advancement in technology has significantly accelerated time-space convergence in the field of global travel?
8. If the Fed has high reserve requirements for banks that will
9. Who typically has control over foreign trade in a country?
10. Has to do with quantity or amount of a product that is produced
11. "A Korean expert provides a service within Mexico as an independent business consultant." This is an example of which type of trade activities?
12. International trade is the purchase, sale, or exchange of goods and services across national borders.
13. Which of the following is a key source of competitive advantage?
14. It is conducted between different religion and geographical location of the same country.
15. When determining the comparative advantage, one must determine
16. Having a global vision simply means having a willingness to sell outside one's national borders if, and when, the opportunity arises.
17. _____ a tax imposed by a government on goods and services imported from other countries that serves to increase the price and make imports less desirable, or at least less competitive, versus domestic goods and services.
18. Which of the following would be true if the U.S. Dollar depreciates against the Euro?
19. A nation has this type advantage when it can produce a good at a lower opportunity cost than another person or nation.
20. The negative impact of international trade can be
21. Visible trade examines the difference between a country's
22. This is a tax imposed on a good/service
23. The country of Rockonya makes 1 television every 5 hours and 1 car every 20 hours, while the country of Jamonia makes 1 television every 24 hours and 1 car every 12 hours. Rockonya has a Comparative Advantage in making televisions.
24. Government sector is made up of all bodies in national, state and local governments
25. A Vietnamese travels to Thailand. Which mode of trade in services is this transaction?
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