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International Trade Quiz 73 (25 MCQs)

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1. The account which records a nation's foreign economic transactions is called the:
2. The total value of goods imported minus the total value of goods exported is referred to as
3. One of the characteristics of a collaborative relationship is_____
4. What are the reasons for international trade?
5. How does international trade benefit consumers?
6. Mercantilism is an economic theory that emphasizes self-sufficiency through a trade surplus.
7. International trade suffers from the limitation of:
8. What are economies such as those in the industrialized West that contain both some government control and some private ownership called?
9. What are some examples of how the government uses taxes to contribute to society?
10. The third assumption of Comparative Advantage Theory: _____ can move freely among industries _____ but is incapable of moving _____
11. The practice of selling a commodity in two countries at a price that differs for reasons not related to costs is called _____
12. When one country can produce a good more efficiently than another country. The ability to produce more of a given product using a given amount of resources
13. What is the result of nations specializing in the production of goods?
14. Country's ability to produce more of a given product than another country can
15. Which government policy is most likely to improve a country's balance of trade?
16. The purpose of the VIES system is to _____
17. A large corporation that has operations in several countries.
18. An invisible import is _____
19. Which is not a purpose of tariff measures?
20. Letter of credit
21. What is not included in Multilateral Trade Agreements is_____
22. Which of the following includes additional packaging, transportation and insurance costs?
23. In which of the following, secrets can get divulged.
24. Which of the following rights is not include in the ILO (International Labor Organization):
25. Business Ethics are not divorced from _____, which are the generally accepted principles of right and wrong governing the conduct of individuals.
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