#1
Which of the following is not a macroeconomic factor affecting international trade?
Exchange rates
Inflation rates
Consumer preferences
Government policies
#2
What does GDP stand for in the context of international trade?
Global Demand Potential
Gross Domestic Product
General Development Plan
Growth Dynamics Predictor
#3
Which of the following is an example of a tariff barrier in international trade?
Quotas
Subsidies
Embargoes
Value-added tax (VAT)
#4
What is the main purpose of the World Trade Organization (WTO)?
To regulate global financial markets
To promote international labor standards
To facilitate trade negotiations and resolve disputes
To provide humanitarian aid to developing countries
#5
What is the main objective of using trade barriers such as tariffs and quotas?
To increase international cooperation
To promote economic efficiency
To protect domestic industries
To encourage free trade agreements
#6
Which of the following is a measure of a country's openness to trade?
Trade balance
Gross national income
Trade-to-GDP ratio
Foreign direct investment
#7
The J-curve effect in international trade refers to:
A graph depicting the relationship between imports and exports
A short-term increase in the trade deficit followed by a decrease
The impact of trade restrictions on a country's economy
The long-term benefits of free trade agreements
#8
Which economic theory suggests that a country should specialize in producing goods for which it has a comparative advantage?
Absolute advantage
Heckscher-Ohlin theory
Ricardian theory of comparative advantage
Mercantilism
#9
What does the term 'Balance of Payments' refer to in international trade?
The difference between a country's exports and imports of goods and services
The value of a country's currency relative to other currencies
The total amount of money a country owes to foreign creditors
A record of all economic transactions between residents of a country and the rest of the world
#10
What is the term for a situation in which a country exports more goods and services than it imports?
Trade surplus
Trade deficit
Trade equilibrium
Trade diversion
#11
What is the concept of comparative advantage in international trade?
A country's ability to produce goods at a lower opportunity cost than another country
A strategy to minimize trade imbalances between nations
The practice of restricting imports to protect domestic industries
A measure of a country's total exports relative to its total imports
#12
Which of the following is not a component of aggregate demand?
Consumption
Government spending
Imports
Investment
#13
What is the name of the principle that suggests that, under certain conditions, the prices of identical goods should be the same across different markets?
Law of one price
Purchasing power parity
Law of demand
Law of supply
#14
Which of the following is a consequence of currency depreciation?
Decreased import prices
Increased import prices
Increased foreign investment
Decreased export competitiveness
#15
What does the term 'dumping' refer to in international trade?
Exporting goods at a price lower than their production cost
Imposing high tariffs on imported goods
Bribing foreign officials to gain trade advantages
Subsidizing domestic industries to increase competitiveness