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International Trade Quiz 94 (25 MCQs)

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1. What is Gross Domestic Product (GDP)?
2. If Australia "pegged" its currency to the U.S. dollar, it would be using a
3. Which of the following is included in one of the internal barriers to international trade?
4. It refers to the sale and shipment of goods and services from one country to another. It involves sending products produced in one country to be sold or used in another country.
5. What happens to goods which don't have national cost advantages or have high transportation costs?
6. If the the United States imports $100 million of goods and exports $150 million, what does the United States have?
7. When imported goods grow cheaper in the US, it is a sign that the value of the dollar is likely _____
8. Which organization deals with international standards for trade?
9. A species such as the critically endangered Asian Elephant is protected by which Appendix within CITES?
10. To change the words of a text, especially a law or a legal document, the implied members must do
11. Wheat grown in Kansas is shipped to Japan.
12. EU like Ireland placed this tpye of barrier to trade on the UK due to BSE crisis in cattle.
13. The dollar is worth more than a foreign currency
14. A _____ is a restriction on the amount of goods that can be imported into a country.
15. The most serious type of trade barrier.
16. Which of the following is an example of an exported product?
17. Japan's government budget deficit affects Japan's real interest rates, supply of euros, the yen price of the euros and should the European central bank buy or sell euros to reverse the change in the foreign exchange market. Japan's rir% _____ supply of euros _____ Yen price of Euro _____ ECB actionA) increase _____ shifts right _____ increase _____ buy eurosB) increase _____ shifts right _____ decrease _____ buy eurosC) increase _____ shifts right _____ decrease _____ sell eurosD) increase _____ shifts left _____ decrease _____ buy eurosE) increase _____ shifts left _____ increase _____ sell euros
18. If one country can produce a good with fewer resources than another country, this is called:
19. What is one of the benefits of international trade in terms of technology and knowledge transfer between countries?
20. The MNCs Theory deepened trade and investment liberalization. The Heckscher-Ohlin Factor Endowment Theory states that commodity and factor markets are in no perfect competition.
21. If we export more than we import, we are said to have a _____ balance of trade. If we import more we are said to have a _____ dollar
22. Which one of these is not a benefit of Global Trade?
23. International bussiness
24. In 2016, the United States limited the number of Japanese cars imported to 2 million per year. This is an example of a/an _____
25. Each of the world's nations must obtain some goods and services from other nations. This mutual need to share resources is called economic _____
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