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






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






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






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






5. Shield domestic producers from foreign competition






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






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






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






9. These create a domestic need for foreign money






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






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






12. Increase aggregate demand during recession






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






14. Excise taxes on imported goods






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






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






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






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






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






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






21. LAS curve shifts this way to indicate economic growth






22. Changes the supply of dollars






23. Imposed on goods not produced domestically






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






25. Work to achieve full production or capacity potentials






26. Specify maximum import levels for specific commodities






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






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






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






30. Benefits of international trade






31. An increase in real GDP that occurs over time






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






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






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






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






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






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






38. These create a foreign need for domestic money






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






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






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






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






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






44. What you give up to get what you want






45. 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






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






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






48. PPC shifts this way to indicate economic growth






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






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