#1
Which of the following is not a major barrier to international trade?
Tariffs
Language barriers
Quotas
Embargoes
#2
Which organization is responsible for regulating international trade and resolving trade disputes?
#3
Which of the following trade agreements involves the United States, Mexico, and Canada?
#4
What is the primary objective of protectionism in international trade?
To promote free trade
To encourage globalization
To protect domestic industries
To eliminate trade barriers
#5
Which of the following is a consequence of globalization on international trade?
Increased cultural isolation
Decreased cross-border investment
Reduced barriers to trade and investment
Limited access to foreign markets
#6
Which international organization promotes financial stability and cooperation among countries?
#7
What does FDI stand for in the context of international business?
Foreign Debt Investment
Free Democratic Interchange
Foreign Direct Investment
Flexible Diplomatic Intervention
#8
Which theory suggests that countries should specialize in producing goods and services in which they have a comparative advantage?
Theory of Absolute Advantage
Mercantilism
Heckscher-Ohlin Theory
Comparative Advantage Theory
#9
Which international trade theory suggests that a country should specialize in the production of goods that require factors of production it has in abundance?
Theory of Absolute Advantage
Mercantilism
Heckscher-Ohlin Theory
Comparative Advantage Theory
#10
What is the balance of trade?
The difference between a country's exports and imports of goods and services
The total value of a country's exports
The total value of a country's imports
The difference between a country's GDP and GNP
#11
What is the main purpose of the World Trade Organization (WTO)?
To provide financial assistance to developing countries
To establish global currency exchange rates
To promote free and fair trade among nations
To regulate global migration policies
#12
Which of the following is an example of a trade surplus?
A country exports more than it imports
A country imports more than it exports
A country has a trade deficit
A country's GDP decreases
#13
What is Dumping in international trade?
Selling goods in foreign markets at a price lower than the domestic market
Exchanging goods without tariffs
Selling goods in foreign markets at a price higher than the domestic market
Investing heavily in foreign markets
#14
Which of the following is an example of a non-tariff barrier to trade?
Import quotas
Customs duties
Excise taxes
Embargoes
#15
What is the primary goal of trade liberalization?
To restrict international trade
To increase government intervention in trade
To reduce or eliminate trade barriers
To promote protectionism
#16
Which of the following trade agreements is primarily focused on environmental issues?
#17
Which organization is responsible for providing financial assistance to countries experiencing balance of payments problems?