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International Trade Quiz 69 (25 MCQs)

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1. Some countries protect their economies through barriers to free trade. What would be the result in such countries of this protection? A Competition will be reduced. B Consumer choice will increase. C Prices will fall. D Unemployment will rise.
2. Where does all the buying, selling, supply, and demand for a product take place?
3. "Zeroing" is a method used by the Investing Authority in calculating a number of transactions to carry out investigations_____
4. The ISO 14000 standard explains about_____
5. A person or organization that buys goods or services from a store or business.
6. North Dakota received boots made in Canada
7. A tax placed upon imported goods or services is called a(n)
8. To protect U.S. national security, a foreign nation would most likely be prevented from
9. The value of the dollar to fall in foreign exchange markets is the effect of
10. A country can produce a product more efficiently and cheaper than another country. This is the:
11. What will cause an improvement in a country's terms of trade? A a fall in incomes abroad B a fall in its exchange rate C a rise in its inflation rate D a rise in the price of its imports
12. Ship by truck when _____
13. Occurs when a country can produce a good utilizing less resources than another country
14. It is when the country exports more of its goods and services higher than the imports
15. A country wealth depends on the availability of goods and services to it's citizens.
16. The Bill of Lading is considered "Title to the Goods"
17. Letting another company, or licensee, use a trademark, patent, special formula, company name, or some other intellectual property for a fee or royalty.
18. What concept does the Ricardian Model predicts in an extreme degree that we do not observe in the real world
19. Most of the machinery in Pakistan is imported from _____
20. The relationship between a nation's exports and imports, which can result in a deficit or a surplus is known as:
21. One cost of trade barriers is that tariffs increases the _____ of imported goods.
22. Tax on imported foreign goods
23. If Brazil has a comparative advantage in producing rubber, and trade in rubber is allowed _____
24. This trade barrier enables money to be made for the government
25. The idea that countries gain when they produce items they are most efficient at producing
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