International Trade & BOP: True or False

Sí o No

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Test your knowledge of trade and balance of payments.

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Grace Joseph

Nigeria

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International Trade & BOP: True or False


International Trade & BOP: True or FalseVersión en línea Test your knowledge of trade and balance of payments. por Grace Joseph 1 In a free market, equilibrium price is where quantity supplied equals quantity demanded. Yes No 2 To find equilibrium, one can set Qd = Qs and solve for P and Q algebraically. Yes No 3 In a perfectly competitive market, price controls are always binding. Yes No 4 Exchange rate policy has no effect on the balance of payments. Yes No 5 Black markets only exist when price controls are imposed. Yes No 6 Direct control and tariffs are the same thing. Yes No 7 Balance of payments disequilibrium can be addressed via exchange rate policy. Yes No 8 A price floor set above the equilibrium price can create a surplus. Yes No 9 West African external trade has been characterized by growing regional and global linkages. Yes No 10 Absolute advantage alone determines trade patterns. Yes No 11 A price ceiling set below the equilibrium price can cause a shortage. Yes No 12 Equilibrium price is always higher than the price floor. Yes No 13 Rationing ensures perfectly efficient allocation in any market. Yes No 14 A decrease in demand shifts the supply curve to the left. Yes No 15 Tariffs are always the only instrument used in commercial policy. Yes No 16 An increase in demand, with supply unchanged, raises both equilibrium price and quantity. Yes No 17 A current account deficit cannot be financed by reserves or international borrowing. Yes No 18 Tariffs are instruments of commercial policy. Yes No 19 Comparative advantage explains why countries engage in trade even when one country has an absolute advantage. Yes No 20 The balance of payments has current, capital, and financial accounts. Yes No

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International Trade & BOP: True or False

Sí o No

Sobre esta actividad

Creada por

Descarga la versión para jugar en papel

Top juegos

Sí o No

¿Está creado con Inteligencia Artificial?

Sí o No

Grammys a mejor canción/grabación

Sí o No

OPEN UP 5 UNIT 3: THERE IS/ARE, THERE WAS, THERE WERE

Sí o No

¿Es verdad?

Sí o No

Preguntas sobre futbol para niños

International Trade & BOP: True or FalseVersión en línea

por Grace Joseph

In a free market, equilibrium price is where quantity supplied equals quantity demanded.

To find equilibrium, one can set Qd = Qs and solve for P and Q algebraically.

In a perfectly competitive market, price controls are always binding.

Exchange rate policy has no effect on the balance of payments.

Black markets only exist when price controls are imposed.

Direct control and tariffs are the same thing.

Balance of payments disequilibrium can be addressed via exchange rate policy.

A price floor set above the equilibrium price can create a surplus.

West African external trade has been characterized by growing regional and global linkages.

Absolute advantage alone determines trade patterns.

A price ceiling set below the equilibrium price can cause a shortage.

Equilibrium price is always higher than the price floor.

Rationing ensures perfectly efficient allocation in any market.

A decrease in demand shifts the supply curve to the left.

Tariffs are always the only instrument used in commercial policy.

An increase in demand, with supply unchanged, raises both equilibrium price and quantity.

A current account deficit cannot be financed by reserves or international borrowing.

Tariffs are instruments of commercial policy.

Comparative advantage explains why countries engage in trade even when one country has an absolute advantage.

The balance of payments has current, capital, and financial accounts.