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International trade: Quiz


Question 1: Some people do not see international trade favourably: here a person protests against the WTO in ________.

Question 2: Dual-currency cash machines in ________: as international trade increases, the need to handle multiple currencies is becoming more powerful.
GuernseyEnglandJerseyUnited Kingdom

Question 3: International trade is exchange of capital, goods, and services across ________ or territories.
Schengen AreaEuropean UnionBorderUnited States

Question 4: It predicts that countries will ________ those goods that make intensive use of locally abundant factors and will import goods that make intensive use of factors that are locally scarce.
ExportExport-oriented industrializationInternational tradeTrade

Question 5: The Ricardian model focuses on ________ and is perhaps the most important concept in international trade theory.
Comparative advantageInternational Monetary FundAbsolute advantageMercantilism

Question 6: The model mimics the Newtonian ________ which also considers distance and physical size between two objects.
GravitationIntroduction to general relativityGeneral relativityHistory of gravitational theory

Question 7: [1] It refers to exports of goods and services by a firm to a foreign-based buyer (importer)[2]In most countries, it represents a significant share of ________ (GDP).
JEL classification codesEconomicsGross domestic productEconomy

Question 8: While international trade has been present throughout much of history (see ________, Amber Road), its economic, social, and political importance has been on the rise in recent centuries.
Silk RoadTang DynastySino-Roman relationsHan Dynasty

Question 9: In one example of this framework, the economy exhibits ________ and increasing returns to scale.
Monopolistic competitionEconomicsJEL classification codesPerfect competition

Question 10: For centuries under the belief in ________ most nations had high tariffs and many restrictions on international trade.
Neoclassical economicsMercantilismKeynesian economicsGeorgism


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