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






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






3. Benefits of international trade






4. An increase in real GDP that occurs over time






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






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






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






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






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






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






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






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






13. Changes the supply of dollars






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






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






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






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






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






19. Increase aggregate demand during recession






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






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






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






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






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






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






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






27. LAS curve shifts this way to indicate economic growth






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






29. Imposed on goods not produced domestically






30. These create a foreign need for domestic money






31. These create a domestic need for foreign money






32. Specify maximum import levels for specific commodities






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






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






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






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






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






38. Shield domestic producers from foreign competition






39. Work to achieve full production or capacity potentials






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






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






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






43. 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






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






45. What you give up to get what you want






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






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






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






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






50. Excise taxes on imported goods