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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. PPC shifts this way to indicate economic growth






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






3. Work to achieve full production or capacity potentials






4. 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






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






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






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






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






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






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






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






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






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






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






15. Specify maximum import levels for specific commodities






16. An increase in real GDP that occurs over time






17. Shield domestic producers from foreign competition






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






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






20. LAS curve shifts this way to indicate economic growth






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






22. Imposed on goods not produced domestically






23. These create a foreign need for domestic money






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






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






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






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






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






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






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






31. Benefits of international trade






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






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






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






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






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






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






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






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






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






41. Increase aggregate demand during recession






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






43. Changes the supply of dollars






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






45. These create a domestic need for foreign money






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






47. Excise taxes on imported goods






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






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






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