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International Trade Quiz 85 (25 MCQs)

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1. Assume the inflation rate in Mexico is significantly higher than its trading partners. Which of the following will occur to the demand, supply, and international value of the Mexican peso?
2. Which are true _____
3. Which of the following is not a part ofconstructing international trade policy?
4. Which union sets-up the basic rules of trade and settles trade disputes between countries?
5. ASEAN is the same trading entity as AFTA
6. Countries that trade without tarrifs or quotas engage in _____
7. It shows that the goods meet the required standards prior to shipment.
8. The imposition of a tariff on imported good by a small country results in net national welfare loss because of the
9. (adv) constantly, continuously
10. International trade is the exchange of goods and services inside a country.
11. Classical mercantilism is the most offensive form of mercantilism because
12. Countries get involved in International Trade
13. The price paid for the use of borrowed money.
14. Stage 1 in product cycle model is know as new product phase and only produced and consumed only in the innovating country.
15. All business activities needed to create, ship, and sell goods and services across national borders are considered to be
16. _____ includes both visible and invisible items.
17. When countries make intensive use of locally scarce factors, they should _____ that product.
18. When our exports exceed our imports, we have a_____
19. In 2012, the United States Commerce Department announced that it would impose a tax ranging from 2.9% to 4.7% on Chinese made solar panels.
20. Superior profitability goes to those firms that can create superior value.
21. Who is the author of the article?
22. The difference between the value of goods and services exported and imported is know as
23. You are a business consultant specializing in International Trade. After your presentation, you opened the floor for questions and you received the following queries. How would you answer the following questions? Compare between international trade and local trade.
24. Which of the following is the key sources of monopolistic advantage?
25. This approach was raise to primarily demonstrate that they offer inappropriate guidelines for ethical decision making in a multinational enterprise.
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