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






2. These create a domestic need for foreign money






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






4. Changes the supply of dollars






5. Excise taxes on imported goods






6. An increase in real GDP that occurs over time






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






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






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






10. Benefits of international trade






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






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






13. LAS curve shifts this way to indicate economic growth






14. Increase aggregate demand during recession






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






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






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






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






19. PPC shifts this way to indicate economic growth






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






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






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






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






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






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






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






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






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






29. Specify maximum import levels for specific commodities






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






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






32. Shield domestic producers from foreign competition






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






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






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






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






37. These create a foreign need for domestic money






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






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






40. Work to achieve full production or capacity potentials






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






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






43. What you give up to get what you want






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






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






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






47. 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






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






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






50. Imposed on goods not produced domestically