#1
Which of the following is an example of a tariff barrier?
Import quotas
Export subsidies
Embargoes
Value-added tax (VAT)
#2
What does GDP stand for?
Gross Domestic Product
General Development Process
Global Demand Projection
Gross Distribution Policy
#3
What is the main purpose of a trade deficit?
To promote domestic production
To encourage foreign investment
To balance trade
To stimulate economic growth
#4
Which country is known for being the world's largest exporter of goods?
China
United States
Germany
Japan
#5
Which of the following is an example of a non-tariff barrier to trade?
Quota
Embargo
Subsidy
Voluntary export restraint
#6
Which organization regulates international trade rules and agreements?
United Nations
World Trade Organization
International Monetary Fund
World Bank
#7
What does FDI stand for in the context of international economics?
Foreign Direct Investment
Free Duty Insurance
Financial Development Indicator
Flexible Debt Incentive
#8
What is a trade sanction?
A penalty for violating trade regulations
A tax imposed on imports
An agreement to promote free trade
A subsidy provided to exporters
#9
Which economic indicator measures the average change in prices of goods and services over time?
#10
Which country is the largest importer of goods globally?
United States
China
Germany
Japan
#11
Which economic theory emphasizes that a country should specialize in the production of goods and services it can produce most efficiently?
Mercantilism
Absolute Advantage
Comparative Advantage
Keynesian Economics
#12
What does WTO stand for?
World Trade Organization
World Tourism Organization
World Technology Organization
World Tariff Organization
#13
Which economic theory suggests that a country should focus on accumulating wealth in the form of precious metals?
Mercantilism
Comparative Advantage
Absolute Advantage
Neoclassical Economics
#14
Which international organization focuses on providing financial assistance to countries experiencing balance of payments problems?
World Bank
World Trade Organization
International Monetary Fund
United Nations
#15
Which economic theory suggests that a country should focus on producing goods for which it has a comparative advantage, even if it has an absolute disadvantage in all goods?
Mercantilism
Heckscher-Ohlin Theory
Comparative Advantage
New Trade Theory