#1
Which organization is responsible for regulating international trade and ensuring trade rules are followed?
World Bank
International Monetary Fund (IMF)
World Trade Organization (WTO)
United Nations (UN)
#2
What is the term used to describe a situation where a country exports more goods than it imports?
Trade surplus
Trade deficit
Balance of payments
Current account
#3
Which of the following trade agreements involves the United States, Canada, and Mexico?
Trans-Pacific Partnership (TPP)
European Union (EU)
North American Free Trade Agreement (NAFTA)
Association of Southeast Asian Nations (ASEAN)
#4
What is the primary purpose of a trade embargo?
To encourage international cooperation
To restrict the flow of certain goods and services to or from a specific country
To promote economic growth
To stabilize currency exchange rates
#5
Which country is known for its 'One Belt, One Road' initiative, aiming to enhance international trade and connectivity?
India
China
United States
Russia
#6
Which economic theory argues that a country should specialize in the production of goods in which it has a comparative advantage?
Absolute advantage
Comparative advantage
Mercantilism
Keynesian economics
#7
What is the primary goal of protectionist trade policies?
To encourage free trade
To promote economic efficiency
To shield domestic industries from foreign competition
To reduce inflation
#8
Which economic policy advocates for minimal government intervention in the economy and supports free market principles?
Keynesian economics
Monetarism
Laissez-faire
Socialism
#9
What is the term used to describe an artificially low currency value to gain a competitive advantage in international trade?
Currency appreciation
Currency depreciation
Exchange rate equilibrium
Currency manipulation
#10
Which trade policy involves reducing or eliminating trade barriers between a group of countries, allowing for the free movement of goods and services?
Protectionism
Isolationism
Free trade agreement (FTA)
Dumping
#11
In the context of international trade, what does the term 'dumping' refer to?
Exporting goods at a price lower than their production cost
Imposing tariffs on imported goods
The exchange rate between two currencies
Promoting fair competition
#12
In the context of international trade, what does the term 'FTA' stand for?
Foreign Trade Agreement
Free Trade Area
Fair Trade Alliance
Foreign Tariff Accord
#13
Which economic concept argues that a country's overall well-being is best measured by the sum of all individuals' well-being within that country?
Gross Domestic Product (GDP)
Gini coefficient
Human Development Index (HDI)
Aggregate demand
#14
In the context of international trade, what does the term 'deglobalization' refer to?
Expansion of global trade networks
Reduction in international trade and economic interconnectedness
Efforts to promote global economic integration
Enhancement of cross-border investments