Font size
WorksheetsKTQT c23
Total questions: 177
Worksheet time: 2hrs 44mins
According to the development-level classification, China belongs to which group?
A developed, high-income economy
A developing, middle-income economy
A developing, low-income economy
A developed economy
According to the classification by economic system, Vietnam is categorized as having:
A developed market economy
A market economy
A centrally planned economy
A transition economy
According to the classification by economic model, China is grouped as:
A developed market economy
A market economy
A centrally planned economy
A transition economy
The world’s major economic centers today are:
North America, Northeast Asia, and the EU
The United States, Japan, and China
The United States, India, and the EU
The United States, China, and the EU
A knowledge-based economy develops:
Primarily along the extensive margin
Primarily along the intensive margin
Along both the extensive and intensive margins
In an unsustainable manner
In a knowledge-based economy, science and technology are characterized as:
Clean and energy-intensive
Clean and labor-intensive
Clean and cost-saving in production
Not clean but cost-saving in production
The key actors in a knowledge economy are workers who are:
Untrained
Trained
In command of science and technology
Both trained and in command of science and technology
To create knowledge products, investment should be directed to:
Science and technology
Education and training
Information technology
Both science & technology and education & training
In a material (goods-based) economy, the sectors contributing the largest share of GDP are:
Services and high-tech industries
Agriculture and services
Services and manufacturing
Agriculture and manufacturing
In a material economy, the factor group with the greatest impact on economic growth is:
Technology and labor
Labor and natural resources
Technology and natural resources
Technology and capital
In a knowledge-based economy, the sectors accounting for the largest share of GDP are:
High-tech services
Agriculture and services
Services and manufacturing
Agriculture and manufacturing
Products of a material economy are characterized by:
High knowledge content
High value
Being raw or semi-processed
Being raw or semi-processed with low knowledge content
Products of a knowledge economy are characterized by:
High knowledge content and high value
Raw or semi-processed with high value
High knowledge content and low value
Raw or semi-processed with low value
Under the shift toward a knowledge economy, the structural change in GDP of advanced economies is:
The share of material production declines, while the share of services rises
The share of material production increases, while the share of services declines
The industrial (manufacturing) share falls, while the services share rises
The agricultural share falls, while the industrial and services shares rise
When an economy is closed , it wil
Produce goods in which it has a comparative advantage
Produce goods in which it does not have a comparative advantage
Produce a mix of goods with and without comparative advantage
Produce only the goods for which there is domestic demand
According to David Ricardo, a country’s comparative advantage affects:
International production specialization
The international division of labor
Both international production specialization and the international division of labor
None of the above
The main drivers propelling globalization are:
International economic organizations, governments, and international (multinational) companies
International financial institutions, governments, and international (multinational) companies
International organizations, governments, and national (domestic) companies
International organizations, governments, and international (multinational) companies
When an economy is closed:
Development relies primarily on internal resources
Goods are produced mainly to serve domestic demand
Exports are promoted
Development relies primarily on internal resources and goods are produced to serve domestic demand
Manifestations of economic globalization include:
Production activities organized on a global scale
Investment activities expanding worldwide
Trade activities expanding worldwide
Production, investment, and trade all organized on a global scale
In the context of economic globalization, globally organized production is reflected in
The development of the international division of labor
The development of production specialization
Goods exchange occurring on a global scale
The development of both the international division of labor and international production specialization
Globalization will:
Have positive effects on each country’s economic development
Have negative effects on each country’s economic development
Have both positive and negative effects on each country’s economic development
Have no effect on each country’s economic development
A closed national economy develops based on:
Domestic resources
Foreign resources
Domestic resources with negligible use of foreign resources
A combination of domestic and foreign resources
An open national economy develops based on:
Domestic resources
Foreign resources
Domestic resources with negligible use of foreign resources
A combination of domestic and foreign resources
Closing the national economy will make the domestic economy:
Grow very rapidly
Grow very slowly with the risk of falling behind
Suffer many adverse effects from global economic fluctuations
Become dependent on foreign countries
Opening the national economy will make the domestic economy:
Fall behind the global economy
Not dependent on foreign countries
Immune to adverse effects from global economic fluctuations
Dependent on foreign countries
A manifestation of opening the national economy is:
Opening internally
Opening externally
Opening externally first, then internally
Opening both internally and externally
An advantage of a closed-economy strategy is:
Faster economic growth
Reduced dependence on the outside world
Avoiding the risk of falling behind
Leveraging external advantages
An advantage of an open-economy strategy is:
Minimizing adverse effects from global economic fluctuations
Limiting dependence on foreign countries
The ability to tap foreign resources
Reducing competitive pressure
A disadvantage of a closed-economy strategy is:
Avoiding the risk of falling behind
Minimizing adverse effects from global economic fluctuations
Failing to leverage external advantages
A disadvantage of an open-economy strategy is:
Avoiding the risk of falling behind
Increased competitive pressure
Immunity to adverse global economic fluctuations
The ability to leverage foreign resources
Advanced industrial countries adopt an open-economy strategy in order to:
Seek factors for extensive (scale-expanding) growth
Seek factors for intensive (productivity-enhancing) growth
Exploit domestic resources inefficiently
Seek factors for both extensive and intensive growth
Vietnam pursues an open-economy strategy in order to:
Expand economic relations with other countries
Expand economic relations with other countries and with international economic organizations
Expand relations with non-economic organizations
Expand political relations with other countries
The trend of opening a national economy will:
Have positive effects on a country’s economic development
Have negative effects on a country’s economic development
Have both positive and negative effects on a country’s economic development
Have no effect on a country’s economic development
The opening-up objective of developing countries is to leverage external advantages in:
Leverage external advantages in capital
Leverage external advantages in science and technology
Leverage external advantages in management experience
Leverage external advantages in science and technology and in management experience
Economic globalization is accelerating because of:
The growth of international (multinational) companies
The growth of economic organizations
The growth of cultural organizations
The growth of social organizations
National organizations participating in globalization will:
Expand economic exchange
Expand cultural exchange
Expand social exchange
Expand economic, cultural, and social exchange
The knowledge economy develops primarily based on the stock of knowledge and modern science & technology, with knowledge workers as its main economic actors
True
False
A prominent feature of the knowledge economy is high and sustainable economic growth, efficient production and consumption, and the rational, economical use of natural resources.
True
False
Products of the material (goods-based) economy have a high degree of processing but low value.
True
False
Products of the knowledge economy have high knowledge content and high value.
True
False
High technology and services account for a large share of GDP in developing countries.
True
False
Globalization makes all aspects of human life less safe.
True
False
Economic globalization is the expansion of exchanges in all fields—economy, culture, politics, and society.
True
False
Vietnam’s strategy of opening the economy will reduce competitive pressure on domestic enterprises.
True
False
If Vietnam adopts a strategy of closing the economy, it will give domestic enterprises greater motivation to develop.
True
False
The objective of advanced countries in implementing an open-economy strategy is to exploit external advantages to achieve growth both extensively and intensively.
True
False
Classification of economies by level of development is based on data for
(a)
By (a) , Viet Nam is a transition economy
The world economy tends to shift from growth along the ....... to growth along the ......
(a)
In a knowledge economy, investment capital is increasingly concentrated in science and technology and
(a)
Both the material economy and the knowledge economy must rely on the four basic factors of production: natural resources, labor, capital, and
(a)
Products of the material economy are characterized by high knowledge content and (a) value.
Economic globalization takes place in the following domains:
(a)
companies are among the actors that drive the process of globalization
(a)
Economic globalization is propelled by three factors: the growth of multinational companies, governments’ opening-up policies, and the development of
(a)
Opening the national economy means developing based on the reasonable combination of both ..... and .....
(a)
Countries that expand exchanges across all fields—economy, culture, politics, and society—are exhibiting the trend of
(a)
International trade is the exchange of:
Capital
Goods, Services
Labor
Science and Technology
The parties participating in international trade are:
Located within the same country
Located within the same locality
Located in different countries
Of the same nationality
International trade takes place in
Regional markets
The world market
The export country’s market
Regional markets, the world market, and the export country’s marke
Means of payment that can be used in international trade:
Hard currencies of the exporting and importing countries
Hard currencies
The exporting country’s currency
The importing country’s currency
The main actors in international trade are:
Firms and governments
Non-governmental organizations
Social organization
Political organizations
According to the World Trade Organization (WTO), how many modes of supplying services internationally are there
3
4
5
6
The currency chosen to express (denominate) value internationally is:
A hard, fully convertible currency
Any convertible currency
The currency of the largest exporting country
The currency of the largest importing country
Under sales terms, the types of prices include:
FOB, CIF
Posted prices on exchanges
Auction prices, tender (bid) prices
Reference prices
Factors influencing international prices:
Monopoly factors
Competitive factors
The value of the currency in which price is denominated
Monopoly, competition, and the value of the pricing currency
An increase in the world market price of a traded item will affect exporters in the long run as:
Beneficial
Adverse
Both beneficial and adverse
No effect
A decrease in the world market price of a traded item will affect exporters in the long run as:
Beneficia
Adverse
Both beneficial and adverse
No effect
An increase in the world market price of a traded item will affect importers in the short run as:
Beneficial
Adverse
Both beneficial and adverse
No
A decrease in the world market price of a traded item will affect international investment as:
Beneficial
Adverse
Both beneficial and adverse
No effect
An increase in the world market price of a traded item will affect international investment by:
Increasing investment
Decreasing investment
Possibly increasing or decreasing investment
No impact
A decrease in the world market price of a traded item will affect international investment by:
Increasing investment
Decreasing investment
Possibly increasing or decreasing investment
No impact
Factors influencing the foreign exchange rate include:
The country’s economic growth rate
The growth rate, psychological (sentiment) factors, and the balance-of-payments position
Psychological (sentiment) factors
The balance-of-payments position
An increase (appreciation) in the exchange rate affects international trade:
. Only positively
Only negatively
Both positively and negatively
No effect
A decrease (depreciation) in the exchange rate affects international trade:
Only positively
Only negatively
Both positively and negatively
No effect
A rapid increase (appreciation) in the exchange rate affects international investment by:
Attracting long-term foreign and domestic investment
Limiting foreign investment into the country in the long run
No effect
Limiting foreign investment into the country in the short run
A decrease (depreciation) in the exchange rate affects international investment by:
Attracting foreign investment into the country in the long run
Limiting foreign investment into the country in the short run
Attracting foreign investment into the country in the short run
No
VTV’s purchase of the broadcasting rights to “Who Wants to Be a Millionaire?” from Russia’s OPT1 falls under which mode of supply?
Supply of services through cross-border movement
Consumption of services abroad
Commercial presence
Presence of natural persons
Vietnamese students going overseas for study fall under which mode of supply?
Consumption of services abroad
Supply of services through cross-border movement
Commercial presence
Presence of natural persons
When competition among sellers is stronger than competition among buyers, the international price tends to:
Increase
Decrease
Remain unchanged
Either increase or decrease
When competition among buyers is stronger than competition among sellers, the international price tends to:
Increase
Decrease
Remain unchanged
Either increase or decrease
When a country’s balance of payments is in surplus, the exchange rate tends to:
Be stable
Increase
Decrease
Either increase or decrease
When a country’s balance of payments is in deficit, the exchange rate tends to:
Be stable
Increase
Decrease
Either increase or decrease
When domestic inflation is higher than foreign inflation, the exchange rate tends to:
Be stable
Increase
Decrease
Either increase or decrease
When the public tends to hoard foreign currency, the exchange rate tends to:
Be stable
Increase
Decrease
Either increase or decrease
In the short run, a rise in the exchange rate within certain bounds will make:
Exports worse off, imports better off
No effect on exports or imports
Exports better off, imports worse off
Exports unaffected, imports better off
In the short run, a fall in the exchange rate within certain bounds will make:
Exports worse off, imports better off
Exports and imports unchanged
Exports better off, imports worse of
Exports worse off, imports unaffected
The Most-Favored-Nation (MFN) treatment requires parties in trade relations to grant terms that are:
Less favorable than those granted to other countries
More favorable than those granted to other countries
No less favorable than those granted to other countries
Exactly equal to those granted to other countries
The MFN regime is characterized by
No binding nature, no piggy-back effect
Binding nature, with a piggy-back effect
No binding nature, with a piggy-back effect
Binding nature, without a piggy-back effect
The preferential terms granted under MFN treatment include:
Tariffs
Fees/charges
Administrative procedures
Dues/levies
National Treatment (NT) aims to ensure non-discrimination between:
Foreign goods among themselves
Goods and business operators at home versus abroad
Domestic goods and domestic business operators among themselves
Domestic goods among themselves
The preferences under National Treatment (NT) that parties grant each other include:
Internal taxes
Domestic fees and charges
Administrative procedures
Internal taxes, fees/charges, and administrative procedures
The purpose of National Treatment is for parties to:
Grant ever-increasing preferences to each other
Grant ever-decreasing preferences to each other
Practice discrimination
Ensure non-discrimination
The fundamental principles in international trade include:
Reciprocity
Non-discrimination
Predictability
Transparency
Granting one another treatment no less favorable than that accorded to any other country is an expression of:
The principle of reciprocity
The MFN regime
The National Treatment regime
The principle of transparency
According equal treatment to foreign goods and suppliers as to domestic goods and suppliers is an expression of:
The principle of reciprocity
The MFN regime
The National Treatment regime
The principle of transparency
The purpose of the MFN (Most-Favored-Nation) regime is to:
Restrict the development of international trade
Practice discrimination
Practice discrimination and restrict the development of international trade
Ensure non-discrimination
The purpose of the NT (National Treatment) regime is to:
Restrict the development of international trade
Practice discrimination
Practice discrimination and restrict the development of international trade
Ensure non-discrimination
When a country adopts a protectionist trade policy, it:
May import inputs at low prices
May import goods at low prices
Can protect goods that are not yet competitive
Will have a more plentiful and diverse range of goods
A free-trade policy is a trade policy under which the state:
Closes the domestic market
Increases the use of tariff barriers
Implements the principle of non-discrimination
A protectionist trade policy is a policy under which the state:
Closes the domestic market to goods that are not yet competitive
Gradually reduces tariff and non-tariff barriers
Implements free international exchange of goods
Implements the principle of non-discrimination
Implementing a free-trade policy makes the domestic goods market:
Less diverse, with consumers benefiting
More diverse, with consumers benefiting
Less diverse, with consumers not benefiting
More diverse, with consumers not benefiting
A country typically applies a free-trade policy when:
The world market is volatile
The world market is stable
The world market is stable and trade relations with partners are friendly
Trade relations with partners are unfriendly
Implementing a protectionist trade policy makes the domestic goods market:
Less diverse, with consumers benefiting
More diverse, with consumers benefiting
Less diverse, with consumers not benefiting
More diverse, with consumers not benefiting
The objective of ensuring non-discrimination is a purpose of:
The MFN regime
The National Treatment regime
Both the MFN and National Treatment regimes
The principle of reciprocity
A country should adopt a protectionist trade policy when:
The world market is highly volatileThe world market is highly volatile
The economy is sufficiently strong
The world market is stable
Trade relations with partners are friendly
Which of the following measures belongs to the group of financial barriers?
Export bans
Domestic taxes
Quotas
Export licensing
Which of the following measures belongs to the group of export-support measures?
Domestic-currency devaluation
Tariffs
Quotas
Deposit requirements
Which of the following measures belongs to the group of export-support measures?
Technical standards in trade
Export credit
Domestic taxes
Import–export licensing
Under the WTO Agreement on Subsidies and Countervailing Measures (ASCM), which form of export subsidy is prohibited?
State support tied to export performance
State support for disaster-stricken regions
State support for R&D in technology
State support for trade promotion
Which of the following measures belongs to the group of non-financial (non-tariff) barriers?
Import duties
Domestic taxes
Import deposit requirements
Technical standards in trade
Which of the following measures belongs to the group of financial, non-tariff barriers?
Export duties
Domestic taxes
Import duties
Technical standards in trade
Applying a tariff to regulate exports of a good will cause the quantity of that good exported to:
Increase
Decrease
Possibly increase or decrease
Remain unchanged
Applying a quota to regulate the import or export of a good will cause the quantity of that good to:
Increase
Decrease
Possibly increase or decrease
Remain unchanged
Tariffs may be applied for the purpose of:
Developing international trade
Protecting consumers
Protecting domestic production
Combating trade fraud
The import deposit ratio depends on:
The degree of state protection for each goo
The value of the good
Relations with the exporting country
The volume of the good
One of the main contents of a trade agreement is provisions on:
Increasing trade barriers
Protecting the domestic market
Settling trade disputes
Restricting imports
The parties to a trade agreement are:
Governments and enterprises
Enterprises
Governments
Individuals
A protective tariff shields domestic production because tariffs can:
Reduce the price of domestically produced goods
Increase the price of imported goods
Increase the price of domestically produced goods
Reduce the price of imported goods
An import deposit is a measure whereby the importing country requires the importer to place a deposit in foreign currency at a commercial bank:
Before importing the goods
After importing the goods
While importing the goods
At any time
When using the import deposit measure to regulate import quantity, the state adjusts the
Import tariff
Price of imported goods
Exchange rate
Deposit ratio
A state-imposed maximum limit on the quantity (or value) of goods permitted to be imported or exported during a period is the measure of:
Tariffs
Import deposits
Monetary instruments
Quotas
Which group of countries sets high and stringent requirements/technical standards?
Developed countries
Developing countries
Least-developed countries
Newly industrialized countries (NICs)
Which measure is not a financial barrier in international trade?
Quotas
Tariffs
Domestic taxes
Import deposit requirements
Which measure is implemented with the objective of developing international trade?
Concluding (signing) trade agreements
Financial measures
Technical measures
Administrative and legal measures
In 2004, the United States banned imports of processed chicken products from Thailand. Which measure did the U.S. apply in international trade?
Quantitative restrictions
Technical barriers
Import ban
Tariffs
In May 2019, nine consignments of Vietnamese seafood were rejected upon entry into the EU for failing to meet EU food safety requirements. Which measure did the EU apply in international trade?
Import restriction
Tariffs
Import ban
Technical measures in trade
Which non-financial measure reflects the highest level of protection?
Quantitative restrictions
Technical measures
Import ban
Quotas
The application of which measure in international trade depends heavily on a country’s level of development?
Licensing and quotas
Concluding trade agreements
Tariffs
Technical measures in trade
Which measure is a form of temporary trade protection?
Quotas
Dumping of goods
Domestic taxes
Import deposit requirements
Developing countries implement only protectionist trade policies.
True
False
Developed countries implement only free-trade policies.
True
False
The MFN regime gives rise to a piggyback/free-rider effect.
True
False
Country A grants tariff preferences to Country B, and Country A also grants similar preferences to Country C; this reflects the MFN regime.
True
False
The timetable for opening the domestic market can be applied uniformly to all product categories.
True
False
When a limited/proportionate protectionist policy is implemented, the use of foreign currency becomes more rational and economical.
True
False
The trend toward applying technical barriers to trade will decrease in the future.
True
False
Under import deposit measures, for goods the state seeks to restrict, the required deposit ratio is set higher.
True
False
Domestic taxes do not contribute to the regulation of international trade.
True
False
Tariffs are instruments for discriminatory treatment in trade relations and can exert pressure on partners during negotiations.
True
False
Green-box subsidies are direct, trade-distorting subsidies.
True
False
Export subsidies are supports provided by private parties to exporting producers and traders.
True
False
Signing international trade agreements is a measure intended to restrict international trade
True
False
Export credit is one of the barriers to international trade
True
False
When implementing a protectionist trade policy, applying technical barriers is considered WTO-consistent (within TBT/SPS rules).
True
False
International auction is a special method of selling, while international tendering is a special method of buying.
True
False
In international auctions, prices tend to rise; conversely, in international tenders, prices tend to fall.
True
False
When the world price falls, exporters can still increase profits.
True
False
Importers should choose to import on CIF terms.
True
False
Exporters should choose to export on CIF terms
True
False
Exporters should choose to export on FOB terms
True
False
When the exchange rate decreases (depreciation), it has only positive effects on international trade
True
False
When the exchange rate increases (appreciation), it has only positive effects on international trade.
True
False
The impact of exchange-rate volatility on trade is the same in the short run and the long run
True
False
When a country’s balance of payments is in deficit, the exchange rate tends to be unstable and to fall (depreciate).
True
False
When a country’s balance of payments is in surplus, the exchange rate tends to be stable and to fall (depreciate).
True
False
When the exchange rate increases (appreciation), it has only positive effects on international trade.
True
False
MFN is a regime requiring parties in economic–trade relations to grant one another preferential conditions ….. those granted to other countries.
(a)
NT is a regime requiring countries to take measures to ensure that foreign products and the suppliers of those products are treated in the domestic market ….. domestic products and domestic suppliers.
(a)
The purpose of the Most-Favored-Nation (MFN) regime in the multilateral trading system is to create equality of opportunity ….. equality among members when entering another member’s market.
(a)
The objective of trade protection is to safeguard national interests against the increasingly strong penetration of foreign goods and services—i.e., to protect the …...
(a)
Free trade is the implementation of the principle of …...
(a)
Trade protection is the implementation of the principle of …...
(a)
….. is a diplomatic instrument concluded by two or more countries stipulating the conditions for conducting trade activities
(a)
Support is when the Government uses certain instruments and measures to act directly or indirectly in a way that facilitates domestic goods and services ….. to foreign markets.
(a)
Export support is when the Government uses certain instruments and measures to act directly or indirectly in order to ….. domestic goods and services exported to foreign markets.
(a)
The Agreement on Subsidies and Countervailing Measures (SCM) divides subsidies into ….. categories.
(a)
A tariff is a tax levied on goods as they move across the ….. of a country.
(a)
….. is a measure whereby the State requires the importer to place a deposit in foreign currency at a commercial bank before importing the goods
(a)
mport deposit is a measure whereby the State requires the importer to place a deposit at a commercial bank in a sum of ….. before importing the goods.
(a)
A quota is the ….. limit on the quantity or value of goods permitted to be imported or exported during a given period
(a)
A technical barrier is when the ….. imposes regulatory and technical-standard requirements on products, requiring exported or imported products to meet certain standards before they may be exported to foreign markets or imported into the domestic market
(a)
To reduce foreign-currency outlays, the importing country should purchase at price
(a)
To increase foreign-currency receipts, the exporting country should sell at price …...
(a)
When the price of a good on the world market falls, exporting that good may …..
(a)
If a country’s exports rise and imports fall, the exchange rate tends to …..
(a)
The price of one unit of foreign currency expressed as a specified number of units of domestic currency is called ….. quotation
(a)
