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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. 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






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






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






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






5. Shield domestic producers from foreign competition






6. Work to achieve full production or capacity potentials






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






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






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






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






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






12. Excise taxes on imported goods






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






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






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






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






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






18. These create a domestic need for foreign money






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






20. Imposed on goods not produced domestically






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






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






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






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






25. What you give up to get what you want






26. Changes the supply of dollars






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






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






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






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






31. PPC shifts this way to indicate economic growth






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






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






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






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






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






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






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






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






40. These create a foreign need for domestic money






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






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






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






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






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






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






47. Specify maximum import levels for specific commodities






48. Benefits of international trade






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






50. LAS curve shifts this way to indicate economic growth