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International Trade Quiz 84 (25 MCQs)

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1. The United States decides it wants to encourage citizens to buy televisions that are made in America, so it decides to set a limit on the number of televisions that can be imported from China and Japan. This limit is an example of a _____
2. It's the authority or organization that controls the flow of goods in and out of a country. Collect the duties or taxes applied to imports and exports.
3. A U.S. tariff on the import of sugar _____
4. Disputes that only bind some WTO member countries originate from_____
5. Invisible trade example
6. When the trade involves Al-Wakalah letter of credit, what role does the bank assume in the transaction?
7. The tariff on agricultural commodities produced by poor Asian and African nations has been doubled by the industrialized nations. Consequently, trade between the agricultural nations and the industrialized one has been greatly reduced. Which of the following would result from the change in tariffs for agricultural commodities?
8. It refers to a government policy that restrict international trade to help domestic industries?
9. When a company hires workers from another country to perform specific tasks, it is called:
10. The burden of proof in the dispute settlement process at the WTO is found in_____
11. A command economy:
12. A "protectionist" is someone who wants to do what?
13. In the national security argument, people believe that economy should be:
14. Which government policy is most likely to increase the volume of exports? A devaluation B embargoes C quotas D tariffs
15. What are the benefits of international trade?
16. Define the purpose of Incoterms in Islamic international trade.
17. Which of these is the MOST likely effect of a weak United States dollar?
18. Which trade group was formed to accelerate economic growth in Southeast Asia?
19. _____ means that the seller delivers goods or services to the buyer without receiving cash, a bill of exchange or any other legally binding and enforceable undertaking at the time of delivery, and the buyer is expected to pay according to the terms of the sales contract and the seller's later invoice.
20. What is the purpose of the Canadian Anti-Spam Legislation (CASL)?
21. What action that the WTO member may take to protect a specific domestic industry from an increase in imports of any product which is causing or threatening tp cause and injury to the industry?
22. NAFTA stands for
23. Refers to the uncontested superiority of a country to produce a particular good better.
24. Which of these abbreviation is an INCOTERM?
25. If a country has absolute advantage they can still benefit from specialization is international trade theory
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