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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. These create a domestic need for foreign money






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






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






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






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






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






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






8. These create a foreign need for domestic money






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






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






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






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






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






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






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






16. An increase in real GDP that occurs over time






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






18. What you give up to get what you want






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






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






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






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






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






24. Specify maximum import levels for specific commodities






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






26. Changes the supply of dollars






27. PPC shifts this way to indicate economic growth






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






29. 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






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






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






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






33. Excise taxes on imported goods






34. Increase aggregate demand during recession






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






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






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






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






39. Imposed on goods not produced domestically






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






41. Shield domestic producers from foreign competition






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






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






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






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






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






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






48. LAS curve shifts this way to indicate economic growth






49. Work to achieve full production or capacity potentials






50. Benefits of international trade