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WorksheetsInternational Trade
Total questions: 15
Worksheet time: 8mins
What is the definition of Free Trade?
A tax levied on imports
Absence of barriers to the free flow of goods and services between countries
A government payment to a domestic producer
A direct restriction on the quantity of some good that may be imported into a country
What is the purpose of Subsidies in international trade?
To compete against low-cost foreign imports
To ban unsafe products
To protect national security
To further foreign policy objectives
What is the main objective of Import Quotas?
To make it difficult for imports to enter a country
To achieve political objectives
To protect jobs and industries
To restrict the quantity of imported goods
What is the purpose of Voluntary Export Restraints?
To impose quotas on trade
To gain export markets
To restrict the quantity of imported goods
To protect consumers
What is the Local Content Requirement in international trade?
To achieve political objectives
To protect jobs and industries
To make it difficult for imports to enter a country
To demand a specific fraction of a good be produced domestically
What is the purpose of Administrative Policies in international trade?
To make it difficult for imports to enter a country
To further foreign policy objectives
To protect human rights
To achieve political objectives
What is the definition of Dumping in international trade?
A direct restriction on the quantity of some good that may be imported into a country
A government payment to a domestic producer
A tax levied on imports
Selling goods in a foreign market below their cost of production
What is the main reason for the Infant Industry Argument?
To protect jobs and industries
To protect national security
To help develop a viable competitive position
To boost the overall wealth of a nation
What is the objective of Strategic Trade Policy?
To protect human rights
To ban unsafe products
To help firms overcome barriers to entry into industries
To achieve political objectives
What is the consequence of Strategic trade policies according to the text?
Boost national income at the expense of other countries
Further foreign policy objectives
Ban unsafe products
Protect jobs and industries
What is the main concern regarding Government Intervention in international trade?
Protecting human rights
Furthering foreign policy objectives
Retaliation and Trade War
Protecting national security
What is the criticism of the Infant Industry Argument?
It boosts the overall wealth of a nation
It protects jobs and industries
It helps develop a viable competitive position
It is useless unless it makes the industry more efficient
What is the purpose of Antidumping Policy in international trade?
To punish foreign firms that engage in dumping
To further foreign policy objectives
To protect human rights
To achieve political objectives
What is the main reason for Governments to intervene in international trade for Economic Reasons?
Retaliating
Protecting national security
Boosting the overall wealth of a nation
Protecting jobs and industries
What is the purpose of Tariffs in international trade?
To raise the cost of imported products compared to domestic products
To gain export markets
To protect consumers
To restrict the quantity of imported goods
