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






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






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






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






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






6. An increase in real GDP that occurs over time






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






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






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






10. These create a domestic need for foreign money






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






12. These create a foreign need for domestic money






13. Specify maximum import levels for specific commodities






14. 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






15. Shield domestic producers from foreign competition






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






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






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






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






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






21. LAS curve shifts this way to indicate economic growth






22. Benefits of international trade






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






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






25. Work to achieve full production or capacity potentials






26. Changes the supply of dollars






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






28. Imposed on goods not produced domestically






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






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






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






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






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






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






35. Increase aggregate demand during recession






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






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






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






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






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






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






42. What you give up to get what you want






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






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






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






46. PPC shifts this way to indicate economic growth






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






48. Excise taxes on imported goods






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






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