#1
Which organization facilitates international trade negotiations and agreements?
World Health Organization (WHO)
International Monetary Fund (IMF)
World Trade Organization (WTO)
United Nations (UN)
#2
What does the term 'FTA' stand for in the context of international trade?
Free Trade Agreement
Foreign Trade Association
Federal Trade Authorization
Foreign Tariff Adjustment
#3
What does the acronym FDI stand for in the context of international business?
Foreign Direct Investment
Free Duty Insurance
Financial Disclosure Index
Foreign Development Initiative
#4
Which of the following is a trade barrier imposed by a government to protect domestic industries by restricting the quantity of imports?
Tariff
Quota
Subsidy
Dumping
#5
Which international financial institution provides loans to developing countries for capital programs?
International Monetary Fund (IMF)
World Bank
Asian Development Bank (ADB)
Bank for International Settlements (BIS)
#6
What is the term for a situation in which a country exports more goods than it imports?
Trade Deficit
Trade Surplus
Balance of Payments
Current Account
#7
Which economic indicator is used to measure a country's overall economic performance?
Consumer Price Index (CPI)
Gross Domestic Product (GDP)
Unemployment Rate
Inflation Rate
#8
What is the primary purpose of a letter of credit in international trade?
To secure a loan for a business
To facilitate communication between companies
To provide a guarantee of payment in a transaction
To establish copyright protection
#9
What is the term used for a government-imposed restriction on the free exchange of goods and services between countries?
Subsidy
Embargo
Quota
Dumping
#10
Which of the following is an example of a non-tariff barrier to trade?
Import Tariff
Value-Added Tax (VAT)
Export Subsidy
Quota
#11
What is the primary purpose of INCO terms in international trade?
Standardizing currency exchange rates
Defining the responsibilities of buyers and sellers in a contract
Regulating import and export licenses
Establishing global quality standards
#12
Which international organization focuses on promoting economic cooperation and development among its member countries?
Organization of the Petroleum Exporting Countries (OPEC)
International Labour Organization (ILO)
European Union (EU)
Organisation for Economic Co-operation and Development (OECD)
#13
In which trade finance method does a bank act as an intermediary to guarantee payment between the buyer and seller?
Open Account
Documentary Collection
Letter of Credit
Cash in Advance
#14
What is the primary goal of the General Agreement on Tariffs and Trade (GATT)?
Promoting environmental sustainability
Facilitating international currency exchange
Reducing barriers to international trade
Regulating global energy resources
#15
Which economic theory suggests that a country should specialize in the production of goods for which it has a comparative advantage?
Mercantilism
Absolute Advantage
Comparative Advantage
Keynesian Economics
#16
What is the primary function of the International Chamber of Commerce (ICC) in the context of global business?
Developing global trade policies
Promoting cultural exchange
Resolving international disputes
Regulating global financial markets
#17
What is the term for the practice of selling goods abroad at a price lower than the production cost or fair market value?
Quota
Tariff
Subsidy
Dumping
#18
What is the primary goal of the United Nations Conference on Trade and Development (UNCTAD)?
Promoting global health
Facilitating international telecommunications
Fostering economic development of developing countries
Regulating international aviation