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International Trade Quiz 56 (30 MCQs)

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1. Who benefits from the depreciation of the Japanese yen relative to the Euro?
2. A country's terms of trade changed from 100 to 95. What is most likely to have caused this change? A a depreciation of the country's currency B a reduction in import tariffs C a rise in the price of exported goods D an improvement in the balance of trade
3. Method used to stop the shipment of certain products to and from a particular country for economic or political reasons
4. Cabot discovered and named one of the provinces of Canada which is Quebec.
5. In the US Current Account, we usually operate with a
6. An ad valorem would be considered which of the following?
7. American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, whereas a Japanese worker can produce 5 tons of grain a year. To keep things simple, assume that each country has 100 million workers. Which country has an absolute advantage in producing cars?
8. A major determinant of how much knowledge a company gains from an alliance is its ability to learn from its alliance partner.
9. Import of goods that are dangerous to society is prohibited
10. A quota on imports is
11. How many categories are there for duration and purpose of insurance?
12. When a country has the ability to produce a product at a lower opportunity cost than another country.
13. A subsidy differs from a tariff and quota in that when a subsidy is granted,
14. South Africa can produce 1 barrel of oil using 3 units of land and can produce 1 karat of diamonds using 1 unit of land. On the other hand, Saudi Arabia can produce 1 barrel of oil using 1/2 unit of land and can produce 1 karat of Diamond using 6 units of land. Which country has comparative advantage in oil production?
15. Who benefits when a firm buys a foreign product because it is cheaper?
16. Insurance compensation is.....
17. Which of the following refers to the ability of a nation to produce a good more efficiently than any other nation?
18. The following is the 3rd step in strategic sourcing is.....
19. What is the most common form of international trade financing?
20. Exporting countries agree to VERs to avoid more damaging punitive tariffs.
21. Japan increased its tariff on U.S. made cars by 50%. The U.S. raised the tariffs on Japan's products such as cameras. Which of the following would result from the change in tariffs on cars and cameras?
22. What is the term for the flow of money from one country to another in search of short-term returns?
23. International trade allows countries to specialise in the goods and services they're best at producing.
24. NAFTA is an agreement among the U.S., Canada, and Mexico primarily intended to promote
25. What is an example of a Documentation requirement related to customs clearance?
26. How many subscribers did Netflix have when it expanded to 190 countries?
27. What does a negative balance of payment say about a country
28. Who has the comparative advantage in Planes?
29. Processing is a mode of producing goods in which an outsourcer supplies raw materials and semi-finished products to the processor. Processors shall produce and deliver final products upon request to the outsourcers and receive .....
30. One of the trade policies implemented by the government is to reduce domestic production costs so that domestic production can compete with foreign production. The policy is called .....
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