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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. Shield domestic producers from foreign competition






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






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






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






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






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






7. Work to achieve full production or capacity potentials






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






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






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






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






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






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






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






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






16. These create a domestic need for foreign money






17. Imposed on goods not produced domestically






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






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






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






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






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






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






24. LAS curve shifts this way to indicate economic growth






25. PPC shifts this way to indicate economic growth






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






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






28. An increase in real GDP that occurs over time






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






30. What you give up to get what you want






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






32. Specify maximum import levels for specific commodities






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






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






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






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






37. Excise taxes on imported goods






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






39. Changes the supply of dollars






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






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






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






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






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






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






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






47. These create a foreign need for domestic money






48. Benefits of international trade






49. Increase aggregate demand during recession






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