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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. These create a domestic need for foreign money






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






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






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






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






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






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






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






9. Specify maximum import levels for specific commodities






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






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






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






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






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






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






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






17. An increase in real GDP that occurs over time






18. Imposed on goods not produced domestically






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






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






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






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






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






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






25. Excise taxes on imported goods






26. LAS curve shifts this way to indicate economic growth






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






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






29. These create a foreign need for domestic money






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






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






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






33. Benefits of international trade






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






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






36. Work to achieve full production or capacity potentials






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






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






39. PPC shifts this way to indicate economic growth






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






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






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






43. What you give up to get what you want






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






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






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






47. Shield domestic producers from foreign competition






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






49. Increase aggregate demand during recession






50. 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