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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. Shield domestic producers from foreign competition
protective tariffs
General Agreement of Tariff and Trade
specialization and increased production
neoclassical growth theory
2. Growth potential cannot be reached unless AD increases and new resources are used...
neoclassical growth theory
tariffs
efficiently/fully
specialization and increased production
3. Occurs because of diversity of taste and economies of scale
specialization and increased production
tariffs
trade in similar goods
comparative advantage
4. Quantity and quality of a nation's natural resources - human resources - capital stock - and technology
supply factors of economic growth
foreign exchange rate
industrial growth policies
efficiently/fully
5. Relationship between the quantity of currency to be sold and the exchange rate is the...
free trade
revenue tariffs
supply side growth policies
supply of dollars
6. By the supply and demand in the foreign exchange market
labor-intensive
trading possibilities line
non-tariff barriers
how exchange rate is determined
7. Work to achieve full production or capacity potentials
revenue tariffs
imports
exports
supply side growth policies
8. Nations with advanced industries are better at producing these kinds of commodities
foreign exporter
domestic government
neoclassical growth theory
capital-intensive
9. The addition of all goods and services in the current account
protective tariffs
balance of trade
supply of dollars
General Agreement of Tariff and Trade
10. The exchange rate - interest rates in that country and other countries - and the expected future exchange rate
capital account
three factors that determine how much money will be demanded
decrease
opportunity cost
11. Shows the options one nation has by specializing in one product and trading another
trading possibilities line
increase
new growth theory
capital-intensive
12. Small tariffs put in place so the government can earn tax revenue
revenue tariffs
supply factors of economic growth
demand side growth policies
land-intensive
13. Protective tariffs increase the domestic price of a good and the increased revenue goes to the...
capital account
decrease
domestic government
growth accounting
14. If the number of Nation B's dollars that a Nation A dollar buys increases - then Nation A's dollar ___________.
rightward
land-intensive
appreciates
free trade
15. A global market in which the currency of one country is exchanged for the currency of another country
Balance of International Payments
decrease
foreign exchange market
new growth theory
16. These create a domestic need for foreign money
imports
productivity function
new growth theory
supply of dollars
17. Imposed on goods not produced domestically
revenue tariffs
non-tariff barriers
demand
appreciates
18. If the interest rate decreases - the demand for the currency will
outward
how exchange rate is determined
increase
supply side growth policies
19. Records all the transactions that take place between residents and foreign nations
Balance of International Payments
industrial growth policies
other industries and consumers
economic growth
20. As the value of a nation's currency increases the exports of that nation will ________.
new growth theory
current account
foreign exchange market
decrease
21. A theory of economic growth based on the view that population growth is determined by income per person
classical growth theory
exports
domestic government
economic growth
22. A change in interest rates or a change in the expected future exchange rate changes the _________ for dollars.
demand side growth policies
demand
free trade
labor-intensive
23. A theory of economic growth based on the idea that technological change results from people's choices and pursuit of profit
land-intensive
supply factors of economic growth
how Fed influences exchange rate
new growth theory
24. LAS curve shifts this way to indicate economic growth
productivity function
efficiently/fully
General Agreement of Tariff and Trade
rightward
25. PPC shifts this way to indicate economic growth
supply of dollars
exchange rate
outward
industrial growth policies
26. A theory of economic growth that believes growth is driven by technological change
outward
neoclassical growth theory
labor-intensive
appreciates
27. The total output will be greatest when each good is produced by that nation that has the lower opportunity cost for that good
appreciates
current account
protective tariffs
comparative advantage
28. An increase in real GDP that occurs over time
exchange rate
current account
productivity function
economic growth
29. A tracking of all export and import goods and services
current account
increase
depreciates
neoclassical growth theory
30. What you give up to get what you want
neoclassical growth theory
opportunity cost
demand side growth policies
rightward
31. The relationship between real GDP per hour of work and capital per hour of work
specialization and increased production
productivity function
demand side growth policies
rightward
32. Specify maximum import levels for specific commodities
import quotas
revenue tariffs
foreign exporter
comparative advantage
33. Nations with a larger available land mass are better at producing these kinds of commodities
land-intensive
other industries and consumers
Balance of International Payments
exports
34. Advocate government taking an active role in the structure and composition of industry
capital-intensive
land-intensive
industrial growth policies
labor-intensive
35. Government interference in protecting certain industries comes at the expense of...
capital account
demand side growth policies
other industries and consumers
new growth theory
36. Nations with a more highly skilled and larger workforce are better at producing these kinds of commodities
supply side growth policies
balance of trade
new growth theory
labor-intensive
37. Excise taxes on imported goods
industrial growth policies
tariffs
protective tariffs
foreign exchange market
38. If the number of Nation B's dollars that Nation A buys decreases - then Nation A's dollar ___________.
outward
three factors that determine how much money will be demanded
depreciates
revenue tariffs
39. Changes the supply of dollars
tariffs
increase
change in interest rate
non-tariff barriers
40. A tracking of the investments made and loans extended to other countries
capital account
change in interest rate
economic growth
tariffs
41. The absence of government barriers to trade among firms and individuals in different nations
import quotas
tariffs
General Agreement of Tariff and Trade
free trade
42. Is the price at which the currency of one country is exchanged for the currency of another country
economic growth
capital-intensive
foreign exchange rate
supply factors of economic growth
43. A forum for negotiating reduction of tariff barriers on a multilateral level
trading possibilities line
growth accounting
efficiently/fully
General Agreement of Tariff and Trade
44. By influencing interest rates and direct intervention in the foreign exchange market
demand
the one-third rule
how Fed influences exchange rate
capital account
45. Quotas increase the domestic price of the good and the increased revenue goes to the...
supply factors of economic growth
three factors that determine how much money will be demanded
foreign exporter
revenue tariffs
46. The attempt to measure the contributions to growth of labor - capital - and technological change
change in interest rate
growth accounting
protective tariffs
non-tariff barriers
47. These create a foreign need for domestic money
exports
productivity function
Balance of International Payments
revenue tariffs
48. Benefits of international trade
specialization and increased production
balance of trade
how Fed influences exchange rate
change in interest rate
49. Increase aggregate demand during recession
supply side growth policies
demand
demand side growth policies
General Agreement of Tariff and Trade
50. An x percent increase in capital per hour of work brings a 1/3 of x percent increase in output per hour of work
demand side growth policies
appreciates
demand
the one-third rule