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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. Specify maximum import levels for specific commodities






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






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






4. Excise taxes on imported goods






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






6. Work to achieve full production or capacity potentials






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






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






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






10. An increase in real GDP that occurs over time






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






12. These create a foreign need for domestic money






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






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






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






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






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






18. PPC shifts this way to indicate economic growth






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






20. These create a domestic need for foreign money






21. Changes the supply of dollars






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






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






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






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






26. 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






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






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






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






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






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






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






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






34. Imposed on goods not produced domestically






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






36. LAS curve shifts this way to indicate economic growth






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






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






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






40. Increase aggregate demand during recession






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






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






43. Shield domestic producers from foreign competition






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






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






46. What you give up to get what you want






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






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






49. Benefits of international trade






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