International Trade Quiz 89 (25 MCQs)

Correct Answer: D) C.

Correct Answer: B) International migration.

Correct Answer: A) Recardian Theory.

Correct Answer: B) Justice theories.

Correct Answer: A) Adam smith.

Correct Answer: A) Lower risk of retaliation by other countries.

Correct Answer: C) A country's ability to produce a good or service more efficiently than another country.

Correct Answer: C) The extent to which different countries possess various factors of production.

Correct Answer: B) General Agreement on Tariffs and Trade.

Correct Answer: B) Foreign Exchange.

Correct Answer: D) An increase in reserve requirements.

Correct Answer: A) True.

Correct Answer: B) Government.

Correct Answer: B) Domestic good.

Correct Answer: A) Producer surplus from that good rises and consumer surplus from that good falls.

Correct Answer: C) Terms of delivery of goods from the seller to the buyer are stated in Incoterms.

Correct Answer: C) A.

Correct Answer: C) Expansion of markets and increased access to goods and services.

Correct Answer: A) Extend loans.

Correct Answer: A) Injection, investment.

Correct Answer: B) The United States should export potatoes to Canada and import coal from Canada.

Correct Answer: C) Country risk.

Correct Answer: B) Collecting bank's role is to take prompt action in forwarding the documents with the seller's instructions to a remitting bank. The collecting bank normally chooses the remitting bank, but the seller may specify the bank to which the documents are to be sent. The collecting bank prepares a covering schedule called the collection instruction for collection order) to forward the documents to the collecting bank and for giving its instructions.

Correct Answer: A) Protectionism.

Correct Answer: D) Purchase agreement.