Test your basic knowledge |

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. Imposed on goods not produced domestically






2. Excise taxes on imported goods






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






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






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






6. Increase aggregate demand during recession






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






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






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






10. What you give up to get what you want






11. Benefits of international trade






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






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






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






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






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






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






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






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






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






22. These create a foreign need for domestic money






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






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






25. These create a domestic need for foreign money






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






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






28. Changes the supply of dollars






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






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






31. 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






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






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






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






35. An increase in real GDP that occurs over time






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






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






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






39. Specify maximum import levels for specific commodities






40. LAS curve shifts this way to indicate economic growth






41. Work to achieve full production or capacity potentials






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






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






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






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






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






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






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






49. Shield domestic producers from foreign competition






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