REVISION FINAL EXAM_1124

The Balance of Payments (BOP) is a systematic record of all economic transactions between a country and the rest of the world during a specific time period.

• TRUE

• FALSE

Remittances sent by foreign workers to their home country are recorded in the current account.

• TRUE

• FALSE

The balance of payments includes only the current account and capital account.

• TRUE

• FALSE

Which of the following is NOT a key component of the National Fourth Industrial Revolution (4IR)?

• Social Media

• Internet of Things (IoT)

• Artificial Intelligence (AI)

• Automation and Robotics

How does the National Fourth Industrial Revolution (4IR) has an impact on the overall productivity of industries?

• It has no effect on productivity

• It results in reduced efficiency and higher operational costs

• It increases productivity through automation and optimized processes

• It leads to a decline in productivity due to increased reliance on technology

The potential benefit associated with the implementation of National Fourth Industrial Revolution (4IR) is______________.

• widening of inequality

• the creation of new job

• irresponsible use of the technology

• loss of trust in society due cyber threats

__________________is one of the job that is under threat because of the National Fourth Industrial Revolution (4IR).

• Blogger

• Surveyors

• Apps Developer

• Social media strategist

Which of the following are the protectionism policies purposes?

• Enjoy varieties of good.

• Increase in efficiency.

• Enjoy economies of scale.

• Reduce deficit in the balance of payment.

The rate at which goods is exchanged for one another in international trade is referred as ____________________.

• terms of trade

• the exchange rate

• an absolute advantage

• a comparative advantage

The concept when the government prohibits certain goods and services, from entering the countries can be defined as embargo.

• TRUE

• FALSE