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WorksheetsInternational Trade quizz 1
Total questions: 22
Worksheet time: 11mins
1. Processing is a mode of producing goods in which an outsourcer supplies raw materials and semi-finished products to the processor. Processors shall produce and deliver final products upon request to the outsourcers and receive ________.
A. wages
B. production expenses
C. processing fee
D. transportation cost
2. According to the gravity model,_________.
A. The volume of goods traded decreases with the size and with proximity of trading partners.
B. The volume of goods traded increases with the size and with proximity of trading partners
C. The volume of goods traded increases with the size and decreases with proximity of trading partners.
D. The volume of goods traded decreases with the size and increases with proximity of trading partners.
3. According to David Ricardo, a country will have a comparative advantage in the product in which its__________.
A. labor productivity is relatively low
B. labor productivity is relatively high
C. labor mobility is relatively low
D. labor mobility is relatively high
4. External economies of scale occur when cost per unit of output depends on _________, not necessarily on _________. Larger industry leads to the number of firms___________.
A. the size of one firm - the size of the industry - increasing
B. the size of one firm - the size of the industry - decreasing
C. the size of the industry - the size of one firm - increasing
D. the size of the industry - the size of one firm - decreasing
5. “If we hold output prices constant, as a factor of production increases, then the supply of the good that uses this factor intensively increases and the supply of the other good decreases.” This is_________.
A. The Rybczynski theorem
B.The Stolper-Samuelson theorem
C.The Heckscher-Ohlin theorem
D. The factor-price equalization theorem.
7. A Korean expert provides a service within Mexico as an independent business consultant. This is an example of which type of trade activities?
(Một chuyên gia Hàn Quốc cung cấp dịch vụ tại Mexico với tư cách là cố vấn kinh doanh độc lập. Đây là ví dụ về loại hoạt động thương mại nào?)
A.Mode 1: Cross-border supply (Cung ứng xuyên biên giới)
B.Mode 2: Consumption abroad (Tiêu dùng ở nước ngoài)
C. Mode 3: Commercial presence (Hiện diện thương mại)
D. Mode 4: Natural persons presence (Hiện diện cá nhân)
A primary reason why nations conduct international trade is because____________.
A.Some nations prefer to produce one thing while others produce another
B.Resources are not equally distributed to all trading nations
C. Trade enhances opportunities to accumulate profits
D. Interest rates are not identical in all trading nations
C: Cloth
F: Food
If PC/PF were to increase in the international marketplace, then___________.
A. all countries would be better off
B. the terms of trade of cloth exporters improve
C. the terms of trade of food exporters improve
D. the terms of trade of all countries improve
10. Canada exports syrup to the US, while imports computers from the US. Syrup-biased growth in Canada will________.
A..improve the terms of trade of Canada
B. worsen the national income of the US
C. better off
D. improve the national welfare of the US
11. At the industry's long-run equilibrium, companies in monopolistic competition will earn_____ economic profit.
A. Positive
B.Negative
C. Zero
D.Undefined
12. A Vietnamese shoe company signs a selling contract with a Chinese company, thereby it will sell its shoes to another Vietnamese company. This transaction is considered as:
(Một công ty giày Việt Nam ký hợp đồng bán hàng với một công ty Trung Quốc, qua đó sẽ bán giày cho một công ty Việt Nam khác. Giao dịch này được coi là:)
A. Export
Switch trade (Chuyển đổi thương mại)
C. On-the-spot export (Xuất khẩu tại chỗ)
D. Re-export
13. All of the following are benefits of international business EXCEPT:
A. decreased competition
B. expanded business opportunities
C. increased sources of raw materials
D. improved political relationships"
14. Assuming that, In the United States, it takes 5 hours of labor to produce a ton of potatoes and 10 to produce a ton of coal. What is the opportunity cost of potato production?
A. 1/2 ton of coal
2
1/5
1/10
15. Assuming that, In the US, there are 45 million labourers and 90 thousand machines. In the UK, there are 50 million labourers and 15 thousand machines. If bread production is labor intensive, which country will produce bread?
A. The US will produce bread
B. The UK will produce bread
C. Both countries will produce bread
D. No country will produce bread
16. A large country experiencing import-biased economic growth will tend to experience__________.
A. unchanged terms of trade
B. deteriorating terms of trade
C. improving terms of trade
D. immiserizing terms of trade"
Supposed that, R: Rice ; S: Steel
We have five nations, two goods and their relative price as below:
In India, PR/PS = 0,2
In Vietnam, PR/PS = 0,25
In Thailand, PR/PS = 0,3
In Russia, PR/PS = 0,5
In Japan, PR/PS = 0,6
If the equilibrium PR/PS = 0,5. What nations will export rice ?
(nho hon =>export)
A. All of them will export
B. Vietnam, Thailand, Russia
C. Thailand, Russia, Japan
D. India, Vietnam, Thailand
18. International trade can have important effects on the distribution of income because___________.
A.different industries employ different factors of production
B. of government corruption
C. the more powerful country dictates the terms of trade
D. rich countries take advantage of poor countries
19. Which of the following is FALSE about the internal economies of scale?
A.Occur when the cost per unit of output depends on the size of a firm, not necessarily on the size of industry
B.Imperfectly competitive market structure
C.Perfectly competitive market structure
D.Give large firms a cost advantage over small firms
20. A Vietnamese shoe company imports a container of embroidery from a Chinese company and then sells that container to a Lao company without doing any import procedure to Vietnam and export procedure from Vietnam. This transaction is considered as _______ ( có đáp án lại là switch trade)
(Một công ty giày Việt Nam nhập khẩu một container thêu từ một công ty Trung Quốc và sau đó bán container đó cho một công ty Lào mà không làm bất kỳ thủ tục nhập khẩu nào vào Việt Nam và thủ tục xuất khẩu từ Việt Nam.)
A.International Processing (Giao dịch quốc tế)
B.On-the-spot export
C.Border-gate transfers of goods (Chuyển hàng qua cửa khẩu)
D.Re-export
switch trade (chuyển đổi thương mại)
A Vietnamese shoe company imports a container of leather from a Taiwanese company. It uses those leather to produce shoes and then exports back finished shoes to that Taiwanese company. This transaction is considered as
International processing
re-export
export
sưitch trade
21. What is NOT true about the WTO?
A. Established on 1/1/1995, WTO currently has 166 members.
B. Non-discrimination is one of the key principles of WTO.
C. Doha Round is the latest round of trade negotiation among WTO members.
D. GATS, which was established by a multilateral treaty of 23 nations, was the predecessor of WTO.
22. BIDV Bank of Vietnam establishes a bank branch in Cambodia. This is an example of which of the following trade-in-service modes?
A. Mode 1: Cross-border supply
B. Mode 2: Consumption abroad
C. Mode 3: Commercial presence
D. Mode 4: Natural persons presence
