International Trade Laws mcq Quiz Set 1

1. Which of the following is international trade_____?

Correct! Wrong!

2. Theory of comparative advantage was presented by_____?

Correct! Wrong!

3. Which is NOT an advantage of international trade_____?

Correct! Wrong!

4. If Japan and India start free trade, difference in wages in two countries will_____?

Correct! Wrong!

5. Trade between two countries can be useful if cost ratios of goods are_____?

Correct! Wrong!

6. Modern theory of international trade is based on the views of_____?

Correct! Wrong!

7. Foreign trade creates among countries_____?

Correct! Wrong!

8. Net exports equal_____?

Correct! Wrong!

9. A tariff_____?

Correct! Wrong!

10. A tariff is_____?

Correct! Wrong!

11. Dumping refers to_____?

Correct! Wrong!

12. According to Hecksher and Ohlin basic cause of international trade is_____?

Correct! Wrong!

13. All are advantages of foreign trade EXCEPT_____?

Correct! Wrong!

14. Two countries can gain from foreign trade if_____?

Correct! Wrong!

15. International trade and domestic trade differ because of_____?

Correct! Wrong!

16. Terms of trade of developing countries are generally unfavorable because_____?

Correct! Wrong!

17. Term of trade of a country show_____?

Correct! Wrong!

18. In a free trade world in which no restrictions exist, international trade will lead to_____?

Correct! Wrong!

19. Govt. policy about exports and imports is called_____?

Correct! Wrong!

20. What would encourage trade between two countries?

Correct! Wrong!

International Trade Laws mcq Quiz Set 1

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