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International Trade

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KG - University

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International Trade
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14 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods or services that a country sells to other nations

Duty
Tariff
Export
Import

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods or services that a country buys from other nations.

Duty
Tariff
Export
Import

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a country has the ability to produce a product at a lower opportunity cost than another country.

Comparative Advantage
Favorable Advantage
Absolute Advantage
Positive Net Export

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a country has the ability to produce more of a product relative to another country.

Absolute Advantage
Favorable Balance of Favorable Balance of Trade
Positive Net Export
Comparative Advantage

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The price of one country's currency in terms of another country's currency.

Tariff
Duty Tax
Exchange Rate
Fiscal Policy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A tax placed on imports

Quota
Duty Tax
Protectionism
Tariff

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The belief in using trade barriers to discourage the importation of foreign goods.

Tariff
Protectionism
Import Quota
Export

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