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International Trade Quiz 59 (30 MCQs)

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1. International trade is of the reasons that will allow a country's economy to grow. Without it, a nation might not have access to a key resource or a way to exchange its own key resources for other items needed.
2. What formula do you use to change US dollars into foreign currency?
3. If other things are held constant, an increase in the United States imports will tend to cause the dollar to .....
4. Indonesia's export commodities are
5. During the 19th Century, economic growth of the major trading countries was biased toward manufactures away from food. The less developed countries of that time were net exporters of food. From this information, we would expect to have observed
6. A trade barrier that places a tax on imported goods
7. What determines supply decisions in a competitive economy?
8. A group of countries that allow free movement of labour and capital within the group have a
9. One of the trade policies carried out by the government is to reduce domestic production costs so that domestic production can compete with foreign production. This policy is called
10. Which of the following organizations does the description refer to?"It has 164 members, accounting for 95% of world trade and with the function promoting free trade between member states"
11. What is the primary objective of containerization in global trade?
12. The U.S. can produce 10 ipads or 20 phones. China can produce 20 ipads or 30 phones. Who should produce what?
13. The formula to calculate Balance of Payments is .....
14. Who initiated liberalization?
15. One of the exclusion conditions in international trade is:
16. Absolute advantage theory was introduced by
17. According to Mansfield and Mutz the American negative attitude toward offshoring is less influenced by:
18. Manufacturing or trade beyond the boundaries of one's own country is known as .....
19. Which union does not deal with trade among countries?
20. Under comparative advantage, the country can produce the good at a lower opportunity cost, which measures what must be given up to produce it .....
21. Commodities are important to Malaysia after independence in 1957, Do you agree.
22. In 1962, the United States sanctioned Cuba and prohibited all imports and exports to and from Cuba. This is an example of which trade barrier?
23. The rate used for immediate delivery of a foreign-exchange contract
24. A fee charged for goods brought into one country from another
25. From the circular flow of income the equation of income is Y= C + S + T + M
26. Some companies sell their product in overseas markets at a much lower price than their actual cost of producing. What is that product called?
27. What is the auxiliary to present simple in third person?
28. The customers are heterogeneous in ..... market due to differences in languages, preferences, customs etc. across countries.
29. Limitation on the quantity of products allowed to be imported into a country
30. Change in exchange rates can lead to .....
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