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






2. LAS curve shifts this way to indicate economic growth






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






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






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






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






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






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






9. PPC shifts this way to indicate economic growth






10. An increase in real GDP that occurs over time






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






12. These create a foreign need for domestic money






13. These create a domestic need for foreign money






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






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






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






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






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






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






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






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






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






24. 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






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






26. Changes the supply of dollars






27. Imposed on goods not produced domestically






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






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






30. Excise taxes on imported goods






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






32. Increase aggregate demand during recession






33. Specify maximum import levels for specific commodities






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






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






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






37. What you give up to get what you want






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






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






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






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






42. Shield domestic producers from foreign competition






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






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






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






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






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






48. Benefits of international trade






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






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