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CLEP Macroeconomics: International

Subjects : clep, economics
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A change in interest rates or a change in the expected future exchange rate changes the _________ for dollars.






2. Protective tariffs increase the domestic price of a good and the increased revenue goes to the...






3. Is the price at which the currency of one country is exchanged for the currency of another country






4. Advocate government taking an active role in the structure and composition of industry






5. Benefits of international trade






6. Quotas increase the domestic price of the good and the increased revenue goes to the...






7. Work to achieve full production or capacity potentials






8. If the number of Nation B's dollars that Nation A buys decreases - then Nation A's dollar ___________.






9. A tracking of all export and import goods and services






10. Nations with a larger available land mass are better at producing these kinds of commodities






11. These create a foreign need for domestic money






12. Shows the options one nation has by specializing in one product and trading another






13. Occurs because of diversity of taste and economies of scale






14. These create a domestic need for foreign money






15. Nations with a more highly skilled and larger workforce are better at producing these kinds of commodities






16. A theory of economic growth based on the idea that technological change results from people's choices and pursuit of profit






17. A change in this brings about a change in how much a country is willing to sell of its currency






18. The addition of all goods and services in the current account






19. A tracking of the investments made and loans extended to other countries






20. By influencing interest rates and direct intervention in the foreign exchange market






21. Relationship between the quantity of currency to be sold and the exchange rate is the...






22. By the supply and demand in the foreign exchange market






23. Quantity and quality of a nation's natural resources - human resources - capital stock - and technology






24. The relationship between real GDP per hour of work and capital per hour of work






25. Changes the supply of dollars






26. Specify maximum import levels for specific commodities






27. Nations with advanced industries are better at producing these kinds of commodities






28. Excise taxes on imported goods






29. An increase in real GDP that occurs over time






30. An x percent increase in capital per hour of work brings a 1/3 of x percent increase in output per hour of work






31. Increase aggregate demand during recession






32. Growth potential cannot be reached unless AD increases and new resources are used...






33. Shield domestic producers from foreign competition






34. PPC shifts this way to indicate economic growth






35. Records all the transactions that take place between residents and foreign nations






36. The absence of government barriers to trade among firms and individuals in different nations






37. Imposed on goods not produced domestically






38. As the value of a nation's currency increases the exports of that nation will ________.






39. Licensing agreements - imposed product standards or levels of 'red tape' that a foreign producer must meet or qualify for before being allowed to export it






40. A theory of economic growth that believes growth is driven by technological change






41. The attempt to measure the contributions to growth of labor - capital - and technological change






42. A theory of economic growth based on the view that population growth is determined by income per person






43. A forum for negotiating reduction of tariff barriers on a multilateral level






44. What you give up to get what you want






45. Government interference in protecting certain industries comes at the expense of...






46. A global market in which the currency of one country is exchanged for the currency of another country






47. The total output will be greatest when each good is produced by that nation that has the lower opportunity cost for that good






48. The exchange rate - interest rates in that country and other countries - and the expected future exchange rate






49. If the number of Nation B's dollars that a Nation A dollar buys increases - then Nation A's dollar ___________.






50. If the interest rate decreases - the demand for the currency will