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






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






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






4. These create a domestic need for foreign money






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






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






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






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






9. Benefits of international trade






10. 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






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






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






13. These create a foreign need for domestic money






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






15. An increase in real GDP that occurs over time






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






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






18. Changes the supply of dollars






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






20. What you give up to get what you want






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






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






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






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






25. Work to achieve full production or capacity potentials






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






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






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






29. Specify maximum import levels for specific commodities






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






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






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






33. Excise taxes on imported goods






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






35. PPC shifts this way to indicate economic growth






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






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






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






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






40. Shield domestic producers from foreign competition






41. LAS curve shifts this way to indicate economic growth






42. Imposed on goods not produced domestically






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






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






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






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






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






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






49. Increase aggregate demand during recession






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