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    Quiz 1

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    Umer Iqbal
    This document contains a multiple choice quiz with 15 questions on topics in international economics. The questions cover subjects like products traded internationally, factors that influence economic interdependence between countries, subjects studied in international trade theory and international finance, assumptions of international economic models, and effects of exchange rate changes.

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    Quiz 1

    Uploaded by

    Umer Iqbal
    828 views2 pages
    This document contains a multiple choice quiz with 15 questions on topics in international economics. The questions cover subjects like products traded internationally, factors that influence economic interdependence between countries, subjects studied in international trade theory and international finance, assumptions of international economic models, and effects of exchange rate changes.

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    This document contains a multiple choice quiz with 15 questions on topics in international economics. The questions cover subjects like products traded internationally, factors that influence economic interdependence between countries, subjects studied in international trade theory and international finance, assumptions of international economic models, and effects of exchange rate changes.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    828 views2 pages

    Quiz 1

    Uploaded by

    Umer Iqbal
    This document contains a multiple choice quiz with 15 questions on topics in international economics. The questions cover subjects like products traded internationally, factors that influence economic interdependence between countries, subjects studied in international trade theory and international finance, assumptions of international economic models, and effects of exchange rate changes.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    of 2

    Multiple-Choice Questions Chapter 1

    1. Which of the following products are not produced at all in the United States? a. Coffee, tea, cocoa b. Steel, copper, aluminum c. Petroleum, coal, natural gas d. Typewriters, computers, airplanes 2. International trade is most important to the standard of living of: a. the United States b. Switzerland c. Germany d. England 3. Over time, the economic interdependence of nation has: a. grown b. diminished c. remained unchanged d. cannot say 4. A rough measure of the degree of economic interdependence of a national is given by: a. the size of the nations population b. the percentage of its population to its GDP c. the percentage of a nations imports and exports to its GDP d. all of the above 5. Economic interdependence is greater for: a. small nations b. large nations c. developed nations d. developing nations 6. International economics deals with: a. the flow of goods, services and payments among nations b. policies directed at regulating the flow of goods, services and payments c. the effects of policies on the welfare of the nation d. all of the above 7. International trade theory refers to: a. the microeconomics aspects of international trade b. the macroeconomics aspects of international trade c. open economy macroeconomics or international finance d. all of the above 8. Which of the following is not the subject matter of international finance? a. foreign exchange markets b. the balance of payments c. the basis and the gains from trade d. policies to adjust balance of payments disequilibria

    9. Economic theory: a. seeks to explain economic events b. seeks to predict economic events c. abstracts from the many detail that surrounds an economic event d. all of the above 10. Which of the following is not an assumption generally made in the study of international economics? a. two nations b. two commodities c. perfect international mobility of factors d. two factors of production 11. In the study of international economics: a. international trade policies are examined before the bases for trade b. adjustment policies are discussed before the balance of payments c. the case of many nations is discussed before the two-nations case d. none of the above 12. International trade is similar to interregional trade in that both must overcome: a. distance and space b. trade restrictions c. differences in currencies d. differences in monetary systems 13. The opening or expansion of international trade usually affects all members of society: a. positively b. negatively c. most positively but some negatively d. most negatively but some positively 14. An increase in the dollar price of a foreign currency usually: a. benefits U.S. importers b. benefits U.S. exporters c. benefits both U.S. importers and exporters d. harms both U.S. importers and exporters 15. Which of the following statements with regard to international economics is true? a. It is a relatively new field b. It is a relatively old field c. Most of its contributions were not economics d. None of the above

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