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International Trade Quiz 68 (25 MCQs)

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1. What is the most common form of international trade financing?
2. Exporting countries agree to VERs to avoid more damaging punitive tariffs.
3. 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?
4. What is the term for the flow of money from one country to another in search of short-term returns?
5. International trade allows countries to specialise in the goods and services they're best at producing.
6. NAFTA is an agreement among the U.S., Canada, and Mexico primarily intended to promote
7. What is an example of a Documentation requirement related to customs clearance?
8. How many subscribers did Netflix have when it expanded to 190 countries?
9. What does a negative balance of payment say about a country
10. Who has the comparative advantage in Planes?
11. 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 _____
12. 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 _____
13. The following are levels of international business except
14. Business Transactions can be done in various ways:
15. Explain the concept of floating exchange rates.
16. Nations trade because consumers have different preferences in terms of prices, quality, brands, and other attributes.
17. In an economy, there are four (4) economic actors, namely _____
18. Tariffs that are only input as a proportion of goods imported are called_____
19. The practice of states party to a trading bloc delaying the implementation of a norm or commitment contained in an agreement is called:
20. What is infrastructure?
21. What is currency appreciation
22. What are some challenges of international trade?
23. Which product did Vietnam export the most in 2022?
24. Before goods enters a country they must meet a certain criteria. This is known as _____
25. Goods brought into Nigeria are called _____ goods while goods taken out of Nigeria to other countries are called _____ goods
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