International Trade

International Trade

University

10 Qs

quiz-placeholder

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International Trade

International Trade

Assessment

Quiz

Financial Education

University

Practice Problem

Hard

Created by

Maisarah Basher

Used 6+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Tax on imported goods is known as

Quota

Tariff

Embargo

Licensing

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Physical control to ban the imports of certain goods because of economics, social and politics is known as

Tariff

Quota

Embargo

License

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The followings are reasons for international trade EXCEPT

Encourage opportunity in local direct investment

Increase productivity

Make the market more competitive

Increased efficiency

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is not a non-tariff barrier?

A. Subsidies

B. Tariff

C. Import Quota

D. Permit and Licensing

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is product life cycle theory for international trade?

A. trade between countries takes place because each country has different levels of resource intensity

B. international trade takes place because countries are at different stages of production levels

C. trade between countries is determined by the availability of related and supported industries

D. trade between countries is determined by similar comparative advantage to exchange similar products

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT a benefit of free international trade?

A.

Benefits local farmers and small businesses

B. Opens up markets to a greater diversity of products

C.

Creates more competition for businesses

D.

Decreases labor

costs for big business

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following best describes the term balance of trade?

A.

A trade agreement between two countries

B.

Trade among countries is equally beneficial for

all of the countries involved

C.

Countries are only allowed to import the same value of goods that they export

D.

The value of a country’s exports equals the country’s imports

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