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






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






3. An increase in real GDP that occurs over time






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






5. LAS curve shifts this way to indicate economic growth






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






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






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






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






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






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






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






13. Imposed on goods not produced domestically






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






15. These create a domestic need for foreign money






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






17. These create a foreign need for domestic money






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






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






20. Benefits of international trade






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






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






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






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






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






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






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






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






29. PPC shifts this way to indicate economic growth






30. Changes the supply of dollars






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






32. Excise taxes on imported goods






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






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






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






36. Shield domestic producers from foreign competition






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






38. Work to achieve full production or capacity potentials






39. Specify maximum import levels for specific commodities






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






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






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






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






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






45. What you give up to get what you want






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






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






48. 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






49. Increase aggregate demand during recession






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