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






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






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






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






5. Imposed on goods not produced domestically






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






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






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






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






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






11. PPC shifts this way to indicate economic growth






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






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






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






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






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






17. Increase aggregate demand during recession






18. Specify maximum import levels for specific commodities






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






20. Work to achieve full production or capacity potentials






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






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






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






24. Benefits of international trade






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






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






27. LAS curve shifts this way to indicate economic growth






28. An increase in real GDP that occurs over time






29. A change in interest rates or a change in the expected future exchange rate changes the _________ for dollars.






30. These create a foreign need for domestic money






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






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






33. Shield domestic producers from foreign competition






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






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






36. Small tariffs put in place so the government can earn tax revenue






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






38. These create a domestic need for foreign money






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






40. Excise taxes on imported goods






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






42. 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






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






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






45. Changes the supply of dollars






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






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






49. What you give up to get what you want






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