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When countries from large trading blocs like the EU, the size of the bloc has the effect of improving them ?

Economics Mcqs, The International Economy And Globalization /
When countries from large trading blocs like the EU, the size of the bloc has the effect of improving them ?

A. balance of trade
B. comparative advantage
C. balance of payments
D. terms of trade

When countries from large trading blocs like the EU, the size of the bloc has the effect of improving them ? Read More »

Economics Mcqs, The International Economy And Globalization

If a group of countries abolish trade barriers between them and set same tariffs on goods coming in from other countries they are a ?

Economics Mcqs, The International Economy And Globalization /
If a group of countries abolish trade barriers between them and set same tariffs on goods coming in from other countries they are a ?

A. common market
B. free trade area
C. customs union
D. federation

If a group of countries abolish trade barriers between them and set same tariffs on goods coming in from other countries they are a ? Read More »

Economics Mcqs, The International Economy And Globalization

Economists suggest that an optimum tariff would be one which reduce imports to a point where___________?

Economics Mcqs, The International Economy And Globalization /
Economists suggest that an optimum tariff would be one which reduce imports to a point where___________?

A. Comparative advantage is achieved
B. Price elasticity of imports is unity and tariff revenue is maximized
C. import prices are the same as export prices
D. marginal social cost equals marginal social benefit

Economists suggest that an optimum tariff would be one which reduce imports to a point where___________? Read More »

Economics Mcqs, The International Economy And Globalization

The term tariff, as used in international trade refers to ?

Economics Mcqs, The International Economy And Globalization /
The term tariff, as used in international trade refers to ?

A. The price of goods when they leave the producing country
B. a limit on the quantity of a good that can be imported into a country
C. a tax on imports
D. a government payment to encourage exports

The term tariff, as used in international trade refers to ? Read More »

Economics Mcqs, The International Economy And Globalization

Term of trade for a country are the ratio of _______________ to _____________?

Economics Mcqs, The International Economy And Globalization /
Term of trade for a country are the ratio of _______________ to _____________?

A. its opportunity costs; world opportunity costs
B. export prices; import prices
C. Value of exports; value of imports
D. its currency; other currencies

Term of trade for a country are the ratio of _______________ to _____________? Read More »

Economics Mcqs, The International Economy And Globalization

The theory that states that a country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product is the?

Economics Mcqs, The International Economy And Globalization /
The theory that states that a country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product is the?

A. Ricardo Malthus theorem
B. Heckscher Ohlin theorem
C. Lucas-Laffer theorem
D. Friedman Samuelson theorem

The theory that states that a country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product is the? Read More »

Economics Mcqs, The International Economy And Globalization

A reduced share of the world export market for the United States would be attributed to?

Economics Mcqs, The International Economy And Globalization /
A reduced of the world export market for the United States would be attributed to?

A. Decreased productivity in U.S manufacturing
B. High incomes of American households
C. Relatively low interest rates in the United States
D. High levels of investment by American corporations

A reduced share of the world export market for the United States would be attributed to? Read More »

Economics Mcqs, The International Economy And Globalization

Technological improvements are similar to international trade since they both ?

Economics Mcqs, The International Economy And Globalization /
Technological improvements are similar to international trade since they both ?

A. Provide benefits for all producers and consumers
B. Increase the nation’s aggregate income
C. Reduce unemployment for all domestic workers
D. Ensure that industries can operate at less than full capacity

Technological improvements are similar to international trade since they both ? Read More »

Economics Mcqs, The International Economy And Globalization