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International Trade Quiz 72 (30 MCQs)

Quiz Instructions

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1. Imagine that in France it takes 3 hours of labor to produce a loaf of bread and 9 hours to
2. Which action would be best for a country seeking a comparative advantage in global trade?
3. Sanitary and Phytosanitary Measures are a form of non-tariff barriers in the form of:
4. What was GATT converted to?
5. WTO would make it more effective at policing global trade rules than the GATT had been.
6. What percentage of the world's consumer goods are transported using stackable sea containers, worth trillions of dollars?
7. Which of the following is one of the conditions specified in eclectic theory for the occurrence of foreign direct investment?
8. The limit on the quantity of a product that may be imported or exported.
9. A country has a deficit on its current account of its balance of payments. What could increase the size of its deficit? A increased exports of its services B increased international competitiveness of its goods C increased numbers of visitors from abroad D increased spending on its military bases abroad
10. What is the acronym for VAT?
11. About ..... % of Pakistan's exports go to ten countries.
12. MNCs has the capacity to be able to produce larger quantities of outputs because they are able to reduce cost, ability to have experts and produce better quality of products.
13. What is the impact of international trade on economic growth?
14. Agreement on Technical Barriers to Trade is contained in the annex (Annex).....
15. Which method of protection always reduces the supply of an imported good to zero?
16. What are the key factors that attract businesses to participate in international trade events?
17. International trade can be detrimental to nations if it leads to:a) dependence on other countriesb) Growing gap between rich and poor countriesc) commercial linkages amongst countriesd) Rivalry and wars between countries
18. All items in this range will be ..... from 27 April.
19. Observe Table 8.5. Which item has the largest share in total imports of India.
20. International trade arises due to similarities in.....
21. Which theory explains how the MNE chooses to acquire and retain one or more value-chain activities inside itself?
22. Protectionists argue that trade barriers keep a nation from becoming too dependent on other countries.
23. It is mainly used when it comes to long intercontinental crossing
24. Incoterms are used in International Trade to help buyer and seller understand the terms and conditions in a sales contract. One of the following is NOT defined by Incoterms:
25. From an economic perspective, returns on foreign investment are included in the overall measure of trade because financial investments:
26. It is the difference between a country's exports and imports. A positive trade balance (surplus) occurs when exports exceed imports, while a negative trade balance (deficit) occurs when imports exceed exports.
27. How many parties are involved in the convention?
28. The fundamental principle of non-discrimination in the WTO is known as
29. Some kinds of product can be found on the international market are .....
30. Which of the following is the biggest importer in the world?
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