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International Trade Quiz 56 (25 MCQs)

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1. International trade is emphasizing on competitive adventages. what is it?
2. The policy of eliminating barriers to international trade; free trade allows goods and services to move more freely across borders.
3. A country finds that its trade deficit gets bigger following a depreciation. This suggests:
4. The belief in using trade barriers to discourage the importation of foreign goods.
5. Gross domestic product; total amount of goods/services produced in a countryeach year
6. The following is a description of the embargo except_____
7. What are trade barriers and how do they affect international trade?
8. Which of the following international trade theories is not a country-based theory?
9. A person or institution that carries out economic activities is called _____
10. When a countries imports exceeds its exports
11. A country is able to produce at a lower opportunity cost
12. Transactions with the "entrusting goods" system are called
13. How does this concentration of production affect prices?
14. The United States EXPORTS
15. Trade Barriers are not important to Malaysia because they hinder trade liberalization in the global arena.
16. The objectives of international trade include_____
17. Which of the following are supporters of neomercantilism?
18. Pakistan's largest import item is
19. A floating exchange rate is a regime where the currency price is set by the
20. Excluding _____, trade barriers are normally created to help protect domestic industry or domestic jobs.
21. Which of the following trade blocks liberalized trade between the United States, Canada, and Mexico?
22. _____ trade occurs within one country and _____ trade is between different countries.
23. You are a UK business that exports to the US market. If the £1 goes from being equal to $1.25 to $1.50, what will happen to your exports to the US?
24. 'Demand conditions at home, ' is not one of the sources of national competitive advantage.
25. Purpose:To hurt a country's economy
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