Intro to International Trade

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Trade basics quiz

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DaneyDane

Trinidad y Tobago

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Intro to International Trade


Froggy Jumps Intro to International TradeVersión en línea Trade basics quiz por DaneyDane 1 Its overriding objective is to help trade flow smoothly, freely, and predictably a International Monetary Fund b World Health Organisation c World Trade Organisation 2 Which policy uses taxes on imports to protect domestic industries? a Quota b Subsidy c Tariff 3 A fixed limit on the number of goods that can be imported is called a ... a Embargo b Tariff c Quota 4 One that doesn’t engage in International Trade a Open Economy b Closed Economy c Production Possibilities 5 One that does engage in International Trade a Open Economy b Closed Economy c Production Possibilities 6 Policy of imposing no restrictions on the movement of products internationally a Quotas b Embargoes c Free TRade 7 Refers to government actions and policies that restrict or restrain international trade a Tariffs b Free TRade c Protectionism 8 Protects infant-industries Job protection arguments Raises government revenue a Arguments in favour of tariffs b Arguments against tariffs c Arguments in favour of free trade 9 Which organization administers most global trade rules? a World Bank b IMF c World Trade Organization (WTO) 10 A trade deficit occurs when imports exceed exports. a True b False c Only during crisis 11 This is the exchange of capital, goods and or services across international boundaries. a Free market b Domestic production c International trade 12 Tariffs ____(increase/decrease) the price of imports and exports a Increase b Decrease c No Change 13 The ____ (increased/decreased) prices would decrease aggregate demand for imports a Increase b Decrease c No Change 14 The decreased aggregate demand for imports would ____(increase/decrease) the production of local substitute goods a Increase b Decrease c No Change 15 Non-essentials imports can be reduced by imposing _____ (high/low) tariffs a Low b High c Diminishing

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Intro to International Trade

Froggy Jumps

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Intro to International TradeVersión en línea

por DaneyDane

Its overriding objective is to help trade flow smoothly, freely, and predictably

Which policy uses taxes on imports to protect domestic industries?

A fixed limit on the number of goods that can be imported is called a ...

One that doesn’t engage in International Trade

One that does engage in International Trade

Policy of imposing no restrictions on the movement of products internationally

Refers to government actions and policies that restrict or restrain international trade

Protects infant-industries Job protection arguments Raises government revenue

Which organization administers most global trade rules?

A trade deficit occurs when imports exceed exports.

This is the exchange of capital, goods and or services across international boundaries.

Tariffs ____(increase/decrease) the price of imports and exports

The ____ (increased/decreased) prices would decrease aggregate demand for imports

The decreased aggregate demand for imports would ____(increase/decrease) the production of local substitute goods

Non-essentials imports can be reduced by imposing _____ (high/low) tariffs