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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. Benefits of international trade






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






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






4. PPC shifts this way to indicate economic growth






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






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






7. Excise taxes on imported goods






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






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






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






11. Specify maximum import levels for specific commodities






12. An increase in real GDP that occurs over time






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






14. LAS curve shifts this way to indicate economic growth






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






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






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






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






19. Imposed on goods not produced domestically






20. These create a domestic need for foreign money






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






24. Changes the supply of dollars






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






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






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






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






29. These create a foreign need for domestic money






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






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






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






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






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






35. 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






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






37. Increase aggregate demand during recession






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






39. Work to achieve full production or capacity potentials






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






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






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






43. Shield domestic producers from foreign competition






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






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






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






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






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






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






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







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