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International Trade Quiz 91 (25 MCQs)

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1. It is the oldest and simplest instrument of trade policy.
2. Investment made by a company or individual in one country in business interests in another country
3. When a country's currency is weak relative to other nations, domestic products are more expensive than imports.
4. INCOTERM was established by which agency?
5. An argument to support trade barriers is
6. The World Trade Organization was created as part of the Uruguay Round
7. International trade not only results in increased efficiency but also allows countries to participate in a global economy, encouraging the opportunity of FilipinoDirect Investment (FDI).
8. One of NT's goals is to:
9. Which of the following is a form of foreign direct investment?
10. Which term refers to a tax levied on imported goods to protect domestic industries?
11. Explanation why it is beneficial for a country to engage in what
12. The price quoted to the buyer, including cost, insurance, and freight
13. Choose the best answer about the relation between inflation rate and exchange rate
14. Which unions help trade among a centralized continent?
15. The development of skills in a specific kind of work; division of labor
16. The exchange of goods and services are known as
17. What is worth more?
18. Country X achieved a surplus in its Balance of Payments due to its earnings from invisible trade. Which item would have featured in this trade?
19. Person or business that provides parts or services to another company; also called vendor
20. The exchange of goods and services among nations.
21. If I am better at all types of production or I can simply produce more than you, I have the _____ in all forms of production.
22. When the exchange rate rises what happens to the value of the currency against other currencies?
23. International trade is part of _____
24. Which country is the largest EXPORTER?
25. When a country sends its goods or services AWAY to other countries
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