Quiz: CHAPTER 6


CHAPTER 6Online version INTERNATIONAL TRADE by arianniii 1 What is international trade? a Trade within a country b Exchange of goods and services between two or more countries c Buying only local products d Government budget management 2 Which of the following is NOT a difference between international and domestic trade? a Use of foreign currency b transportation cost c Same legal system d Different government policies 3 What is protectionism? a Free trade policies b Policy that imposes barriers to limit trade c Tax-free trade policy d Exchange rate control 4 The anti-dumping argument refers to : a New and developing industries b Old industries only c Non-profitable firms d Domestic employment 5 What is specific tariff? a A tax based on percentage of value b A fixed tax per unit of imported goods c A tax on exports d A transport fee 6 A quota is : a A percentage tax b A limit on the number of goods imported c A type of export subsidy d A trade promotion tool 7 What is the balance of payments (BOP) ? a Record of trade between two companies b Record of all economic transactions between a country and the world c Record of government debt only d Record of domestic income 8 Which of the following is a component of the current account? a Direct investment b Merchandise trade c Reserve assets d Portfolio investment 9 What is an exchange rate? a Price of one currency in terms of another b Price of domestic goods c Interest rate charged by banks d Wage rate foreign workers 10 A floating exchange rate is determined by : a Government decision b Market demand and supply c IMF control d Fixed gold value

1

What is international trade?

a

Trade within a country

b

Exchange of goods and services between two or more countries

c

Buying only local products

d

Government budget management

2

Which of the following is NOT a difference between international and domestic trade?

a

Use of foreign currency

b

transportation cost

c

Same legal system

d

Different government policies

3

What is protectionism?

a

Free trade policies

b

Policy that imposes barriers to limit trade

c

Tax-free trade policy

d

Exchange rate control

4

The anti-dumping argument refers to :

a

New and developing industries

b

Old industries only

c

Non-profitable firms

d

Domestic employment

5

What is specific tariff?

a

A tax based on percentage of value

b

A fixed tax per unit of imported goods

c

A tax on exports

d

A transport fee

6

A quota is :

a

A percentage tax

b

A limit on the number of goods imported

c

A type of export subsidy

d

A trade promotion tool

7

What is the balance of payments (BOP) ?

a

Record of trade between two companies

b

Record of all economic transactions between a country and the world

c

Record of government debt only

d

Record of domestic income

8

Which of the following is a component of the current account?

a

Direct investment

b

Merchandise trade

c

Reserve assets

d

Portfolio investment

9

What is an exchange rate?

a

Price of one currency in terms of another

b

Price of domestic goods

c

Interest rate charged by banks

d

Wage rate foreign workers

10

A floating exchange rate is determined by :

a

Government decision

b

Market demand and supply

c

IMF control

d

Fixed gold value

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CHAPTER 6

Quiz

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CHAPTER 6Online version

by arianniii

What is international trade?

Which of the following is NOT a difference between international and domestic trade?

What is protectionism?

The anti-dumping argument refers to :

What is specific tariff?

A quota is :

What is the balance of payments (BOP) ?

Which of the following is a component of the current account?

What is an exchange rate?

A floating exchange rate is determined by :

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