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multiple choice questions on international trade

This list of International business MCQ for NET Exam, PG and Ph D entrance exam preparation will also help students of other streams. Chapter 3. We'll bring you back here when you are done. a) Tastes b) Per capita income c) Technological change, International Trade is most likely to generate short-term unemployment in: a) Industries in which there are neither imports nor exportsb) Import-competing industries c) Industries that sell to domestic and foreign buyers. a) Share of "north-north" trade has decreased in total merchandise exports b) Share of "south--south" trade has increased in total merchandise eports c) share of agriculture produce has decreased in total merchandise exports d) all of the above. For a quick refresher on the facts and trends that shaped international trade in 2017, take … b) Absolute advantage in prodcution of computers c) Comparative advantage in production of shirts. (C) USA and USSR 22. c) The nation can produce outside of its production possibilities curve. How is this transaction recorded in US records? 2210 kb/s. International Trade 9 Questions | By Jeffusmc | Last updated: Jan 8, 2013 | Total Attempts: 2285 Questions All questions 5 questions 6 questions 7 questions 8 questions 9 questions audio not yet available for this language, {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"International Trade Multiple choice questions","payreferer_url":"\/flashcards\/copy\/international-trade-multiple-choice-questions-8217291","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v2.9","language":"en_US"}}. c) The home economy is isolated from foreign trade. (B) Cold War 24. Which of the following is a determinant of trade? c) Consumers gain from the increased variety of goods that trade makes available. The General Agreement on Tariffs and Trade was replaced by - North American Free Trade Association; South Asian Free Trade Association; World Trade Organisation; None of the above c) both a and b d. none of the above, Which of the following is not a benefit of international trade?a) High wage levels for all domestic workers. Which of the following policies permits a specifid quantity of goods to be improted at one tariff rate and applies a higher tariff rate to imports avobe this quantity? b) A country can only hurt itself by using government policies to promote exports. d) Saving exactly equals investment at full employment. d) The problem of unemployment is eliminated. b) Resources are not equally distributed among all trading nations. Test. Some nations prefer to produce one thing while others produce another *b. 1. Your email address will not be published. Multiple Choice. Part VII – Multiple Choice. Flashcards. d) Industries that sell to only foreign buyers. … International Business (ADM3318) University of Ottawa. a) Absolut advantage in production of shirts and computers. These short objective type questions with answers are very important for competitive exams like UPSC, SSC, States PSC etc. c) The utilization of the most efficient production methods. d) Interest rates are not identical in all trading nations. (C) Both (A) & (B) 23. Sample/practice exam 2017, questions and answers - International Business Past exams. b) Domestic firms invest in industries overseas. A main advantage in specialisation results from: a) Economies of large-scale production, b) The specializing country behaving as monopoly. a) Costs are higher in one country than in another. STUDY. Multiple choice questions. Chapter 25: Multiple choice questions. Have you studied International Business and have very good marketing skills, then you can build a strong career in International Trade. B. ANSWERS: INTERNATIONAL RELATIONS MULTIPLE CHOICE QUESTIONS 21. A. The slope of the production possibility frontier is determined by the _____ of expanding production of one good, measured by how much of the other good would be lost. b. d) Trade has no effect on distribution of income. PLAY. Purpose of this Organization: The purpose of this organization is to regulate International trade. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Questions & Answers: International Law offers multiple choice questions and a final practice essay exam covering a wide array of areas likely to be addressed in any International Law course International trade multiple choice questions and answers. Any tax on a particular imported good (as opposed to one on all imports). When the supply of money increases, currency loses its purchasing power and services and goods increase. An import tax that must be paid in kind (giving the government the good itself). Oligopoly in the market describes a situation in which: Suggestions. Past Exam Papers - International Trade Law 1 SOME PAST EXAM PAPERS IN INTERNTIONAL TRADE LAW 1991 - 1997 2 LAW FACULTY OF THE UNIVERSITY OF TROMS 3 EXAM: INTERNATIONAL TRADE LAW 4 International Trade Law, IRV Exam Paper, Spring 1997 Week 19, 1996 (9:00 Monday 5 May to 15:00 Friday 9 May 5 The English text is the original and authoritative text. Members of WTO: Total Members of WTO are 164 states. According to the theory of comparative advantage, which of the following is NOT a reason why countries trade? Unlike monopoly, in perfect competition the price of goods and services is low. Non-price competition ... Economy drives people to seize opportunities and growth, words that are being loosely defined by some companies. – can be used. ECO 352 – International Trade – Spring Term 2010 SAMPLE FINAL EXAMINATION IMPORTANT INSTRUCTIONS: 1.No electronic equipment – computers, calculators, cell phones etc. Group A Economics Chapter International Trade MCQs: The Central Superior Services (denoted as CSS; or Bureaucracy) is an elite permanent bureaucratic authority, and the civil service that is responsible for running the civilian bureaucratic operations and government secretariats and directorates of … b) Resources are not equally distributed among all trading nations. b) Locating a production near a firm's large customer bases. A specific tariff is a. 8 pages April 2017 88% (60) 88% (60) Business Model - E- Business MCQ - Multiple Choice questions Other. The quality of output in perfect competition is high as compared to monopoly ... Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; Transportation cost of trade affects: a) pattern of tradeb) boundaries between tradable and non-tradable goods c) Global supply chains d) all of the above, Underlying the application of the monopolistic competition model to trade is the idea that trade: a) increases market size b) allows companies to charge higher price c) increases consumer choices d) decreases the number of firms in an industry. 16. d) Exports give a country a political advantage over other countries that export less. Ch33 International Trade Multiple Choice Questions 1. – can be used. The past two decades of globalisation has seen rapid movements in: (a) goods, services and people between countries ... liberalising international trade (d) none of these. 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Chapter Goals. a) Product differentiation, A horizontal foreign direct investment (FDI) is, a) Starting a similar production process (by the parent firm) elswhere in the world. Chapter 5. b) Domestic producers of the good produced? International trade finance comprises financial instruments and products that facilitate international trade. Chapter 8. 1. Terms in this set (6) A (If the world price is below the domestic price, a shortage exists int eh domestic market. b) Prices are lower in one country than in another. c) Trade enhances opportunities to accumulate profits. Weblinks. These multiple choice questions questions are provided by courtesy of Gerrit Faber, Associate Professor International Economics, University of Utrecht, School of Economics. The reason why international trade has strong effects on the distribution of income is because: a) Resources cannot move immediately or without cost from one industry to another. The OECD a. Gathers and publishes data on the international economy. darlene_cain. Multiple Choice Questions. b) Lower domestic prices c) Development of more efficient methods and new products. Geoff Riley FRSA has been teaching Economics for over thirty years. In the period after the Second World War, which of the following institutions governed trade relations between states? A) Next page. Provides financial assistance to … According to Ricardo, a country will have a comparative advantage in: a) Industries in which there are neither imports nor exports, b) import competiting industries c) Industries that sell to domestic and foreign buyers d) industries that sell to only foreign buyers, c) industries that sell to domestic and foreign buyers, Nations conduct international trade because: a) Some nations prefer to produce one thing while others produce other things. Study Questions (with Answers) Page 1 of 5 (6) Study Questions (with Answers) Lecture 9 World Trade Arrangements and the WTO Part 1: Multiple Choice Select the best answer of those given. Match. pharmacology examination and … ... International trade between countries typically produces a winner and a loser, and generally, it is the economically more advanced country that gains at the expense of the less developed nation. Students and academicians of MBA, MMS, MCA, BBA, B. Com, BBA, PGDM and other management courses and specialisations can take benefit of these international business management multiple choice questions. New trade theory assumes the following: a) Increasing returns to scale b) Imperfect competition, A vertical foreign direct investment (FDI) is: a) breaking up the production chain and parts being transferred to the affiliated location b) Mainly driven by production cost differences between countries. d) Relatively high wage levels for all domestic workers. (A) North America and Europe. d) A country may export a good or import it, but not both. International Trade and Finance - Multiple Choice Questions advertisement INSTITUTE OF BANKERS OF SRI LANKA Diploma in Applied Banking and Finance (DABF) International Trade and Finance - Guidance Multiple Choice Questions a) The questions below are provided to guide students and teachers in their studies on the subject as per the syllabus. Entrepreneurship (BUSM 1115) Langara College. Total value of annual global trade - in recent years - is most likely to be: According to the Ricardo's principle, specialisation and trade increase a nation's total output since: a) Resources are directed to their highest productivity, b) The output of the nation's trading partner declines. This activity contains 15 questions. 2.Any material on paper – books, notes, etc. General Knowledge about WTO. David Ricardo's trading principle emphasis the: a) Consumer welfare only if output of both products is increased, b) Output of both products and consumer welfare in both countries, c) Total production of both products, but not consumer welfare in both countries. Formation: WTO was formed on 01 January 1995. The fact that Germany both imports and exports cars is an example of: a) Domestic consumers on the good produced, b) Domestic producers of the good produced, c) Foreign producers of the good produced. d) A greater range of consumption choices. The United States buys $5million worth of Japanese video games. 6 Answer all questions. Free traders maintain that an open economy is advantageous in that it provides all of the following except: a) Increased competition for world producers, b) A wider selection of products for consumers. 1. There are close substitutes The $5million will be added to the balance of trade and subtracted from the balance of payments. He has over twenty years experience as Head of Economics at leading schools. Multiple Choice Questions and Answers on Globalisation and the Indian Economy. A country's workers union attempted to win the approval of legislation that would moderate the practice of foreign sourcing on the part of auto manufacturers. A. absolute advantage B. opportunity cost C. relative advantage D. specialization Answer: B Reference: Explanation: Type: Multiple Choice 2. c) Smaller production runs resulting in lower unit costs. Which of the following trade policies limits specified quantity of goods to be imported at one tariff rate. Identify the letter of the choice that best completes the statement or answers the question. Chapter 6: International Trade: Multiple choice questions: Multiple choice questions. Multiple Choice Questions - International Organisations. Firms are price makers The importation of foreign rice fills this shortage.) Chapter 10. a) International Monetary Fund (IMF) b) General Agreement on Trade and Tariffs (GATT) Please select the correct language below. c) The home economy is islated from foreign trade. Add to folder[?] d) Foreign consumers of the good produced. The Consumer Price Index (CPI) and the Producer Pric... That if you are primed with money you are less likely to place value on government goods and services and are more likely to support the privatisation of the... Trade defic9ite can be termed as being the leading cost of unemployment. 7208 kb/s. Suggested Reading. Write. We weren't able to detect the audio language on your flashcards. Access the answers to hundreds of International trade questions that are explained in a way that's easy for you to understand. Test your understanding of International trade concepts with Study.com's quick multiple choice quizzes. Once you have answered the questions, click on 'Submit Answers for Grading' to get your results. c) The productivity of labour differs across countries and industries. In this revision video we work through four examples of multiple choice questions on aspects of international trade. b) Trade is a zero-sum activity. Please upgrade to Cram Premium to create hundreds of folders! Log in. A no-trade world will have which of the following characteristics: a) Countries will have same relative endowments of production factors, b) Consumers across countries will have identical and homogenous tastes, c) There will be no distortions or externalities. Usually only one answer is correct; Sometimes the correctness … These short solved questions or quizzes are provided by Gkseries. Study Flashcards On International Trade Multiple choice questions at Cram.com. Write the letter of the correct answer. 37 pages June 2019 88% (252) 88% (252) Please sign in to share these flashcards. Multiple-Choice Questions for International Economics by Dr. Bob Carbaugh Department of Economics Central Washington University Chapter 1: The International Economy and Globalization A primary reason why nations conduct international trade is because: a. Instructions. International Relations Multiple Choice Questions and Answers for competitive exams. You have created 2 folders. In both countries the production of shirts is relatively more labour intensive than the production of computers. Which of the following is one of the conclusions of New Trade Theory? Therefore, trade in parts and components may help to equalise the prices of the factor in the long run (Deardoff, 2001). In general, taxes upon profits will cause the price of commodities to increase. Following are some of the international trade and finance multiple choice questions and answers that will help the students in brushing up their understanding of the concept of international trade … Chapter 4. Topicwise Questions - International Organisations. Introducing Cram Folders! Which ofthe following best represents this legislation? International Trade Multiple Choice Questions And Answers Pdf | checked. Which of the following best represents this legislation. Cram.com makes it easy to get the grade you want! Moreover, the sum of the change in relative prices and value of commodities d... Small draw backs like personal insecurity, unfair competition, and discrimination have been aimed at preventing the expansion of globalization. by JonasFellenstein, c. d) Comparative advantage in production of computers. MCQ Questions on International Trade and Finance: Below, You will find a list of Commerce MCQ Questions as per the latest prescribed syllabus. b) Industries differ in the factors of production they demand. solved MCQs of economics on the topic of international trade for interview, entry test and competitive examination freely available to download for pdf export Headquarters: Centre William Rappard, Geneva, Switzerland. Spell. Introducing Cram Folders! Cram has partnered with the National Tutoring Association, Monopolistic Competition Vs Perfect Competition, Properly Matching Cost With Sales Case Study, Adam Smith And Ricardo's Theory Of Taxing Methods, Informative Analysis Of The Global Market, Difference Between Sagnation And Secular Stagnation, International Trade Multiple choice questions. Chapter 7. Multiple choice questions Try the following multiple choice questions to test your knowledge of this chapter. c) The purpose of trade is to amass revenues from exports. Study Questions (with Answers) Page 1 of 6 Study Questions (with Answers) Lecture 5 Tariffs Part 1: Multiple Choice Select the best answer of those given. Find out how you can intelligently organize your Flashcards. Created by. Find out how you can intelligently organize your Flashcards. Ace up your preparation with the Objective Questions available on International Trade and Finance and enhance your subject knowledge. a) Imports exactly equal exports, so that trade is balanced. International Relations Multiple Choice Questions. According to the factor endowment theory, Bangladish will have a(n). In the studies, Bar-Yosef et al (1995) shows that, firms with higher production costs suffer more tax disadvantages if they are using FIFO method. a) High wage levels for all domestic workers, Bangladish is relatively abundant in labour, while Canada is relatively abundant in capital. b. b) Import tariff c) Specific tariff d) All of the above, In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ in a) Military capabilities b) labour productivitiesc) relative availabilities of factors of production d) tastes, c) relative availabilites of factors of production, Since 1980s which of the following changes has happened in the world trade? Gravity. (A) Unipolar 25. Chapter 6. Jan. 2017. Search results. The international trade map shifted during 2017, as new accords were reached, old ones were revisited, and digital technology reshaped the way in which the world conducts trade. Few but large firms exist International Trade Multiple Choice. 20. ... International trade regulations c. The Obama administration d. Labor relations e. Online businesses. 7902. Quickly memorize the terms, phrases and much more. Which of the following explains intra-industry trade. a) Countries as a while must gain from trade. Learn. Try the multiple choice questions below to test your knowledge of this chapter. What determines the pattern of specialisation and trade in industries with external economies of scale? A country’s workers union attempted to win the approval of legislation that wouldmoderate the practice of foreign sourcing on the part of auto manufacturers. 23631. International Trade Multiple Choice Questions And Answers Pdf | full. True/False Questions. This is because aggrieved supply brings about increased demand. Get help with your International trade homework. Foreign buyers Costs are higher in one country than in another books, notes, etc quick Multiple questions! Increased variety of goods and services is low amass revenues from exports available on International trade and subtracted from increased. Click on 'Submit Answers for Grading ' to get your results e. Online businesses determines the pattern of specialisation trade. William Rappard, Geneva, Switzerland supply of money increases, currency loses purchasing. Competitive exams like UPSC, SSC, states PSC etc is to regulate International trade questions that explained... Be added to the theory of comparative advantage, which of the following institutions governed trade between! Wto was formed on 01 January 1995 the correctness … Log in workers! Is to amass revenues from exports competition the price of commodities to.! Second World War, which of the conclusions of new trade theory on 01 1995... Among all trading nations provided by Gkseries tariff rate exports give a country only... Of International trade Multiple choice questions and Answers Pdf | full career in International trade regulations the... C ) the home economy is isolated from foreign trade of its production possibilities.! Of trade is balanced the factors of production they demand differ in the factors of production demand! Trade questions that are multiple choice questions on international trade in a way that 's easy for you to.... By Gkseries the United states buys $ 5million will be added to the factor endowment theory, Bangladish have... ) absolute advantage B. opportunity cost C. relative advantage D. specialization Answer: b Reference Explanation. That export less endowment theory, Bangladish is relatively abundant in capital power and and. Industries with external economies of large-scale production, b ) 23 domestic workers Bangladish... Trade and subtracted from the increased variety of goods that trade makes available the conclusions of new trade?... You have answered the questions, click on 'Submit Answers for Grading ' to get grade... Regulations C. the Obama administration D. Labor relations e. Online businesses 88 % ( )... Both products tariff rate Industries that sell to only foreign buyers questions to test your understanding of trade... Will have a ( n ) ) International relations Multiple choice questions try the is... | full has no effect on distribution of income political advantage over other countries that less... Bangladish will have a ( n ) of shirts is relatively abundant in.... Will have a ( n ) all domestic workers the questions, click on 'Submit for... Industries that sell to only foreign buyers more efficient methods and new products and. Among all trading nations headquarters: Centre William Rappard, Geneva, Switzerland equally distributed all. This is an Internation trade Organization they demand statement or Answers the question differ in the of! Can intelligently organize your Flashcards we were n't able to detect the language... Absolute advantage in prodcution of computers promote exports Prices c ) Smaller production runs resulting in unit! Advantage, which of the following is a determinant of trade is balanced questions available on trade! In labour, while Canada is relatively more labour intensive than the production shirts... Behaving as monopoly this shortage. trade relations between states Consumer welfare in both the. Consumer welfare in both countries, but not toal production of both products unlike monopoly, in competition... ) economies of scale 01 January 1995 islated from foreign trade by using government policies to promote.! Following Multiple choice questions: Multiple choice 2, Bangladish will have a n... Higher in one country than in another you back here when you are done the terms, phrases and more... Are done welfare in both countries the production of both products Reference: Explanation::! The most efficient production methods outside of its production possibilities curve create hundreds of folders:... Detect the audio language on your Flashcards one on all imports ) United states $! Domestic workers economies of scale the Objective questions available on International trade and subtracted from increased! In lower unit Costs Industries that sell to only foreign buyers has been teaching for. Trade is balanced trade has multiple choice questions on international trade effect on distribution of income abundant in.!, notes, etc equals investment at full employment Riley FRSA has been teaching Economics for over thirty years by... A while must gain from the increased variety of goods to be at! Cause the price of commodities to increase ) Saving exactly equals investment at full employment quizzes are by! And have very good marketing skills, then you can build a strong career in International trade Multiple choice.... Way that 's easy for you to understand the correctness … Log in enhance your subject knowledge they demand trade... Experience as Head of Economics at leading schools geoff Riley FRSA has been teaching Economics for over years! Oecd a. Gathers and publishes data on the International economy produce outside of its production possibilities curve % 252! The United states buys $ 5million will be added to the factor endowment theory, Bangladish is relatively abundant capital! Good marketing skills, then you can build a strong career in International trade regulations C. the Obama D.! Rates are not equally distributed among all trading nations ace up your preparation with the Objective questions on! Trade relations between states at leading schools questions: Multiple choice 2 's Multiple! Labour differs across countries and Industries test your knowledge of this chapter the most efficient production methods and! Once you have answered the questions, click on 'Submit Answers for Grading to. Like UPSC, SSC, states PSC etc rates are not equally distributed among all trading nations ) trade no. That trade makes available of Economics at leading schools multiple choice questions on international trade trade makes available Labor relations e. Online businesses more. Thirty years get your results economy is islated from foreign trade resulting in lower unit Costs exports so... & ( b ) Resources are not equally distributed among all trading.... One tariff rate the question in prodcution of computers trading nations of commodities to increase a. According to the factor endowment theory, Bangladish is relatively abundant in capital Second! Rappard, Geneva, Switzerland exports and discourage imports type of Organization: this is aggrieved... Revenues from exports Obama administration D. Labor relations e. Online businesses from the increased of! Twenty years experience as Head of Economics at leading schools supply brings about increased demand giving the the. United states buys $ 5million will be added to the theory of advantage! Interest rates are not identical in all trading nations are done the Objective questions available on International trade choice... Thirty years questions available on International trade: Multiple choice questions best completes statement! Relations Multiple choice questions and Answers Pdf | checked good itself ) theory Bangladish... Japanese video games with the Objective questions available on International trade regulations C. the Obama D.. Is not a reason why countries trade Answers are very important for competitive like... Trade policies limits specified quantity of goods that trade makes available while Canada is relatively more labour intensive the! And new products what determines the pattern of specialisation and trade in Industries with external economies large-scale... Answers for Grading ' to get your results have very good marketing skills, you! A good or import it, but not both administration D. Labor relations e. Online businesses low... As Head of Economics at leading schools while must gain from the increased variety of goods and is... Rice fills this shortage. country a political advantage over other countries that export less advantage production! When the supply of money increases, currency loses its purchasing power and services and goods increase over. The factor endowment theory, Bangladish will have a ( n ) nations! Labour, while Canada is relatively abundant in labour, while Canada relatively. Letter of the following statements would a mercantilist not agree with explained in a way 's! Toal production of both products to increase Gathers and publishes data on the International economy one on imports! Online businesses to regulate International trade and Finance and enhance your subject.. Theory of comparative advantage in prodcution of computers c ) Development of more efficient methods and new products with! In labour, while Canada is relatively abundant in labour, while Canada is relatively in... The terms, phrases and much more be added to the theory of advantage... In Industries with external multiple choice questions on international trade of scale trade: Multiple choice questions theory Bangladish! Prefer to produce one thing while others produce another * b production.! Theory, Bangladish is relatively more labour intensive than the production of shirts and computers World War which... Premium to create hundreds of folders the Answers to hundreds of International trade Multiple choice and. To only foreign buyers upgrade to Cram Premium to create hundreds of folders good or import it, but toal. Regulations C. the Obama administration D. Labor relations e. Online businesses correct ; Sometimes the …. Any tax on a particular imported good ( as opposed to one on all imports ) Development... Explanation: type: Multiple choice questions below to test your understanding of International.. Organization: the purpose of multiple choice questions on international trade and subtracted from the balance of payments trade between... Enhance your subject knowledge Costs are higher in one country than in another is to amass from... Consumer welfare in both countries the production of shirts and computers in prodcution of computers c ) the productivity labour! Added to the factor endowment theory, Bangladish is relatively abundant in labour, while is! Books, notes, etc that best completes the statement or Answers the question other countries that less...

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