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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. An increase in real GDP that occurs over time






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






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






4. What you give up to get what you want






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






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






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






8. Imposed on goods not produced domestically






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






10. Benefits of international trade






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






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






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






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






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






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






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






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






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






20. PPC shifts this way to indicate economic growth






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






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






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






24. Shield domestic producers from foreign competition






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






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






27. 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






28. Excise taxes on imported goods






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






30. Specify maximum import levels for specific commodities






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






33. These create a foreign need for domestic money






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






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






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






37. LAS curve shifts this way to indicate economic growth






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






39. These create a domestic need for foreign money






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






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






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






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






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






45. Work to achieve full production or capacity potentials






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






47. Increase aggregate demand during recession






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






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






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







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Can you answer 50 questions in 15 minutes?


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