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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. Work to achieve full production or capacity potentials






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






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






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






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






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






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






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






9. These create a domestic need for foreign money






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






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






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






13. Imposed on goods not produced domestically






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






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






16. LAS curve shifts this way to indicate economic growth






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






18. Excise taxes on imported goods






19. Changes the supply of dollars






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






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






22. These create a foreign need for domestic money






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






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






25. An increase in real GDP that occurs over time






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






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






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






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






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






31. Specify maximum import levels for specific commodities






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






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






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






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






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






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






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






39. Increase aggregate demand during recession






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






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






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






43. Shield domestic producers from foreign competition






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






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






46. 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






47. PPC shifts this way to indicate economic growth






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






49. What you give up to get what you want






50. Benefits of international trade