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International Trade Quiz 65 (30 MCQs)

Quiz Instructions

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1. When nations exchange, it is called .....
2. Which document is used to specify the terms of international trade, including the price, quantity, and quality of goods?
3. Slave trade was abolished in Britain in year
4. Which of the following is true of the absolute advantage theory of international trade?
5. If a business is multinational company, what does this mean?
6. If one nation becomes more efficient than another nation at producing a specific product, the more efficient nation is said to have
7. We offer a ..... to customers who buy in bulk.
8. Which of the following is most true?
9. Which term is defined as a tax on imported goods?
10. In the Himalayan countries of Nepal and Bhutan, (a) contributes to their isolation from globalization?
11. Given that:In the production of 1 ton rice, the Philippines uses 40 units of resources, and Sri Lanka uses 65 units of resources.In the production of 1 ton of corn, the Philippines uses 15 units of resources, and Sri Lanka uses 40 units of resources.In what products each country has comparative advantage on?
12. The Ricardian Model neglects the possible role of what concept as a cause of trade?
13. What did the North American Free Trade Agreement (NAFTA) aim to do?
14. Porter's theory stated that a nation's competitiveness in an industry depends on the capacity of the industry to innovate and upgrade.
15. They are used for shipping of dry materials
16. A business that sells goods or services directly to the public.
17. Which of the following is a characteristic of a trading bloc?
18. With an exchange rate of 5 Egyptian pounds (EGP) = 1 US dollar ($ ), an American product sells in Egypt for EGP 100. Assuming that the dollar price remains unchanged, what will be the price of the product in Egypt if the Egyptian pound appreciates to 4 EGP = 1 US$ ? A EGP 75 B EGP 80 C EGP 120 D EGP 125
19. A government prohibits the import of an item
20. Which of the following is not a characteristic of an LDC (Less Developed Country)?
21. Prof. Dr. Andreas Stoffers from International University of Applied Sciences Munich moves to Vietnam for 3 months to teach the International Business module in UEB. This is an example of .....
22. What is the acronym of IMF?
23. In an ..... there are many buyers but only a few sellers. Oil companies, grocery stores, cellphone companies, and tire manufacturers
24. Which treaty replaced the NAFTA and came into force on July 1, 2020?
25. Imported goods become expensive so that similar goods produced domestically will be competitive
26. How many factors of production are involved in an economy whereby the production possibility frontier is simply a straight line?
27. What are the key macroeconomic variables that describe an interaction in world markets?
28. FTA, common Markets, Economic Union and Customs Union are types of trading blocs
29. A persistent trade imbalance tends to ..... a country's dollar.
30. A North American agreement formed to promote trade between Canada, the United States, and Mexico. Just renamed recently.
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