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International Trade Quiz 99 (25 MCQs)

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1. An attempt to make someone do something for you, in a non legal way, by giving the person money, presents, or something else that he or she wants.
2. Commercial exchange between nations that is conducted on free market principles, without regulations.
3. What will be the impact of a fall in the exchange rate on a business that sells imported goods in its own country?
4. When a currency is determined by supply and demand for a currency relative toother currencies
5. Which of the following accurately defines embargo?
6. Which of the following statements BEST describes the effects of fre e trade?
7. Which approach views power as secondary to security?
8. The EU placed this barrier to trade on the amount of clothes that can be imported from China to the EU.
9. The value of the dollar decreases
10. What would someone who supports protectionism likely say?
11. Which of the following methods is NOT used to measure a country's national income?
12. Which of the following changes would help a business that aims to export most of the goods it produces?
13. The US government levies a 51 cent tariff on every wristwatch imported into the US. Thus, if 1000 watches are imported, the government collects $510 in tariff revenue.The tariff collected is an example of _____
14. Business don't need to assess if a country believes in free markets, government control, or heavy intervention. These are the factors that may not influence the choice of investors.
15. According to David Ricardo, a country will have a comparative advantage in the product in which its _____
16. The balance of trade for the US is currently
17. Which of the following is true of the European Union?
18. Which of these BEST describes a situation in which a country has a "trade surplus?"
19. Choose the best answer about the relation between inflation rate and growth rate
20. Balance of Payments is an accounting statement that records monetary transactions between _____
21. What is the potential consequence of neglecting government spending on roads, schools, welfare, and healthcare?
22. The world trade organization is_____
23. One of the following is NOT controlled by Customs:
24. All governments support trade liberalisation and the removal of trade barriers
25. Producer-Wholesaler-retailer-consumer is the example of
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