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.Management Sciences
Category: The International Economy And Globalization
The terms of trade measure ?
A. The income of one country compared to another
B. The GDP of one country compared to another
C. The quantity of exports of one country compared to another
D. Export prices compared to import prices
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 real income of domestic producers and consumers can be increased by ?
A. Technological progress, but not international trade
B. International trade but not technological progress
C. Technological Progress and international trade
D. Neither technological progress nor international trade
What is not a feature of the EU as a single market ?
A. Elimination of border controls
B. No import taxes on goods bought in another members country
C. Each country can retain its own technical standards
D. Common security arrangements
In a floating exchange rate system ?
A. The government intervenes to influence the exchange rate
B. The exchange rate should adjust to equate the supply and demand of the currency
C. The Balance of payments should always be in surplus
D. The Balance of payments will always equal the government budget
A demand switching policy could be ?
A. Higher interest rates
B. Higher income tax
C. Tariffs
D. Reduced government spending
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