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Test your basic knowledge |
CLEP Macroeconomics: International
Start Test
Study First
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. Occurs because of diversity of taste and economies of scale
how exchange rate is determined
other industries and consumers
trade in similar goods
new growth theory
2. If the number of Nation B's dollars that Nation A buys decreases - then Nation A's dollar ___________.
imports
supply factors of economic growth
depreciates
foreign exporter
3. Changes the supply of dollars
change in interest rate
capital account
appreciates
new growth theory
4. Relationship between the quantity of currency to be sold and the exchange rate is the...
the one-third rule
decrease
supply of dollars
foreign exchange rate
5. Work to achieve full production or capacity potentials
protective tariffs
supply side growth policies
current account
demand
6. Quotas increase the domestic price of the good and the increased revenue goes to the...
exports
foreign exchange rate
foreign exporter
efficiently/fully
7. Nations with a more highly skilled and larger workforce are better at producing these kinds of commodities
import quotas
productivity function
land-intensive
labor-intensive
8. If the interest rate decreases - the demand for the currency will
current account
revenue tariffs
increase
foreign exchange market
9. A forum for negotiating reduction of tariff barriers on a multilateral level
other industries and consumers
trade in similar goods
productivity function
General Agreement of Tariff and Trade
10. Nations with advanced industries are better at producing these kinds of commodities
three factors that determine how much money will be demanded
foreign exchange rate
non-tariff barriers
capital-intensive
11. The absence of government barriers to trade among firms and individuals in different nations
exports
domestic government
free trade
new growth theory
12. A tracking of the investments made and loans extended to other countries
imports
classical growth theory
foreign exporter
capital account
13. These create a foreign need for domestic money
exports
protective tariffs
exchange rate
tariffs
14. The total output will be greatest when each good is produced by that nation that has the lower opportunity cost for that good
balance of trade
rightward
comparative advantage
neoclassical growth theory
15. The attempt to measure the contributions to growth of labor - capital - and technological change
decrease
current account
foreign exporter
growth accounting
16. LAS curve shifts this way to indicate economic growth
revenue tariffs
change in interest rate
General Agreement of Tariff and Trade
rightward
17. By the supply and demand in the foreign exchange market
industrial growth policies
efficiently/fully
decrease
how exchange rate is determined
18. A change in this brings about a change in how much a country is willing to sell of its currency
exchange rate
other industries and consumers
revenue tariffs
imports
19. Specify maximum import levels for specific commodities
supply factors of economic growth
import quotas
foreign exporter
neoclassical growth theory
20. The relationship between real GDP per hour of work and capital per hour of work
opportunity cost
increase
productivity function
appreciates
21. Quantity and quality of a nation's natural resources - human resources - capital stock - and technology
imports
the one-third rule
productivity function
supply factors of economic growth
22. A theory of economic growth that believes growth is driven by technological change
supply of dollars
neoclassical growth theory
revenue tariffs
revenue tariffs
23. PPC shifts this way to indicate economic growth
capital-intensive
outward
revenue tariffs
depreciates
24. Is the price at which the currency of one country is exchanged for the currency of another country
supply side growth policies
free trade
foreign exchange rate
efficiently/fully
25. These create a domestic need for foreign money
comparative advantage
supply of dollars
imports
land-intensive
26. What you give up to get what you want
productivity function
other industries and consumers
depreciates
opportunity cost
27. Government interference in protecting certain industries comes at the expense of...
other industries and consumers
how Fed influences exchange rate
classical growth theory
revenue tariffs
28. Nations with a larger available land mass are better at producing these kinds of commodities
free trade
exports
land-intensive
demand side growth policies
29. By influencing interest rates and direct intervention in the foreign exchange market
non-tariff barriers
three factors that determine how much money will be demanded
how Fed influences exchange rate
appreciates
30. Imposed on goods not produced domestically
tariffs
revenue tariffs
free trade
protective tariffs
31. As the value of a nation's currency increases the exports of that nation will ________.
capital-intensive
decrease
opportunity cost
domestic government
32. Excise taxes on imported goods
tariffs
Balance of International Payments
classical growth theory
trading possibilities line
33. Advocate government taking an active role in the structure and composition of industry
how exchange rate is determined
supply factors of economic growth
foreign exporter
industrial growth policies
34. A tracking of all export and import goods and services
trading possibilities line
appreciates
current account
tariffs
35. If the number of Nation B's dollars that a Nation A dollar buys increases - then Nation A's dollar ___________.
exports
foreign exchange market
appreciates
efficiently/fully
36. An increase in real GDP that occurs over time
trading possibilities line
economic growth
depreciates
other industries and consumers
37. Shows the options one nation has by specializing in one product and trading another
trading possibilities line
demand
revenue tariffs
new growth theory
38. A change in interest rates or a change in the expected future exchange rate changes the _________ for dollars.
other industries and consumers
demand
exports
tariffs
39. Records all the transactions that take place between residents and foreign nations
productivity function
exchange rate
Balance of International Payments
labor-intensive
40. Growth potential cannot be reached unless AD increases and new resources are used...
three factors that determine how much money will be demanded
efficiently/fully
new growth theory
demand side growth policies
41. Shield domestic producers from foreign competition
supply of dollars
new growth theory
protective tariffs
the one-third rule
42. A theory of economic growth based on the idea that technological change results from people's choices and pursuit of profit
supply factors of economic growth
trade in similar goods
change in interest rate
new growth theory
43. A global market in which the currency of one country is exchanged for the currency of another country
foreign exchange market
economic growth
efficiently/fully
non-tariff barriers
44. The addition of all goods and services in the current account
balance of trade
revenue tariffs
rightward
new growth theory
45. Small tariffs put in place so the government can earn tax revenue
free trade
revenue tariffs
the one-third rule
specialization and increased production
46. Increase aggregate demand during recession
efficiently/fully
exchange rate
demand side growth policies
demand
47. The exchange rate - interest rates in that country and other countries - and the expected future exchange rate
supply of dollars
three factors that determine how much money will be demanded
General Agreement of Tariff and Trade
outward
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
non-tariff barriers
balance of trade
foreign exporter
depreciates
49. A theory of economic growth based on the view that population growth is determined by income per person
trading possibilities line
increase
appreciates
classical growth theory
50. Protective tariffs increase the domestic price of a good and the increased revenue goes to the...
comparative advantage
domestic government
economic growth
three factors that determine how much money will be demanded