IBTRADE QUIZ - LT MIDTERMS

In International Monetary Fund
Three Main functions:

"This pursues the two-pronged goal of providing temporary financing and supporting policies that will correct these kinds of problems."

• SURVEILLANCE

• TECHNICAL ASSISTANCE

• LENDING

In International Monetary Fund
Three Main functions:

"This refers to the monitoring of economic and financial developments and policies in member countries at the global level."

• SURVEILLANCE

• TECHNICAL ASSISTANCE

• LENDING

In International Monetary Fund
Three Main functions:

"The IMF provide the governments and central banks of its member countries with technical assistance and training in the countries areas expertise."

• SURVEILLANCE

• TECHNICAL ASSISTANCE

• LENDING

TRUE OR FALSE

In the classical theories of international trade assume that;

THERE ARE TWO PRODUCTS TO TRADE WITH.

• TRUE

• FALSE

TRUE OR FALSE

In the classical theories of international trade assume that;

THERE IS ONLY ONE COUNTRY WHICH WILL TRADE.

• TRUE

• FALSE

TRUE OR FALSE

In the classical theories of international trade assume that;

THERE IS ONLY ONE FACTOR OF PRODUCTION-THE INPUT-IN ORDER TO COME UP WITH A PRODUCTION.

• TRUE

• FALSE

In his book entitled Wealth of Nations published in London in1776, _______________ discuss the Theory of Absolute Advantage.

• Adam Smith

• David Ricardo

He lived from 1772-1823, _________________ postulated the Theory of Comparative Advantage. He probably discovered the law of comparative advantage in October 1816.

• Adam Smith

• David Ricardo

In this theory, two economist in 1933 developed this concept which explains that a country will export goods and that are intensive in production in its abundant factors, and import goods intensive in its relatively scarce factors.

• Heckscher-Ohlin Trade Theory of Factor Proportions

• Neo-classical Trade Theory

• Leontief Validation of the Heckscher-Ohlin Theory

In this theory, it explains why two countries trade goods and services with each other. According to this theory, one condition for trade is that the countries differ with respect to the availability of the factors of production.

• Heckscher-Ohlin Trade Theory of Factor Proportions

• Neo-classical Trade Theory

• Leontief Validation of the Heckscher-Ohlin Theory