#1
Which organization regulates international trade rules and agreements?
World Health Organization (WHO)
International Monetary Fund (IMF)
World Trade Organization (WTO)
United Nations (UN)
#2
What is the purpose of imposing tariffs on imported goods?
To encourage domestic production
To reduce government revenue
To increase imports
To promote international cooperation
#3
What is the purpose of a free trade agreement (FTA)?
To increase tariffs on imports
To restrict the movement of goods between countries
To promote trade by reducing barriers
To establish a common currency
#4
Which international organization provides financial assistance to countries facing balance of payments problems?
World Trade Organization (WTO)
International Monetary Fund (IMF)
World Bank
Organization for Economic Cooperation and Development (OECD)
#5
Which trade theory suggests that countries should specialize in producing goods in which they have a comparative advantage?
Mercantilism
Heckscher-Ohlin theory
Absolute advantage theory
Comparative advantage theory
#6
What is a 'trade deficit'?
When a country exports more than it imports
When a country imports more than it exports
When a country's imports and exports are equal
When a country doesn't engage in international trade
#7
What is the 'most favored nation' principle in international trade?
A nation that receives special trade privileges
A nation that is treated equally in trade as others
A nation that receives limited trade privileges
A nation that imposes tariffs on all imports
#8
What is the 'Dumping' practice in international trade?
Exporting goods below their production cost
Imposing high tariffs on imports
Subsidizing domestic industries
Limiting the quantity of exports
#9
Which of the following is an example of a non-tariff barrier to trade?
Quotas
Embargoes
Value-added tax (VAT)
Customs duties
#10
What is the significance of the World Economic Forum (WEF)?
To regulate global financial markets
To promote international tourism
To address global economic issues
To enforce international trade agreements
#11
What is the purpose of the General Agreement on Tariffs and Trade (GATT)?
To regulate environmental policies
To promote cultural exchange
To reduce barriers to international trade
To regulate currency exchange rates
#12
Which economic theory emphasizes the benefits of unrestricted free trade?
Protectionism
Mercantilism
Comparative advantage
Import substitution
#13
Which of the following is an example of a regional trade agreement?
North American Free Trade Agreement (NAFTA)
ASEAN Free Trade Area (AFTA)
European Union (EU)
All of the above
#14
What is the main goal of the Sustainable Development Goals (SDGs) in the context of global economic policies?
Promoting protectionism
Reducing income inequality
Increasing trade barriers
Expanding military alliances
#15
Which economic concept advocates for the government's active involvement in managing the economy, including trade policies?
Laissez-faire economics
Keynesian economics
Monetarism
Neoclassical economics