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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. PPC shifts this way to indicate economic growth






2. These create a foreign need for domestic money






3. Imposed on goods not produced domestically






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






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






6. Benefits of international trade






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






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. 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






11. Excise taxes on imported goods






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






27. An increase in real GDP that occurs over time






28. What you give up to get what you want






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






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






31. Work to achieve full production or capacity potentials






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






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






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. A tracking of all export and import goods and services






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






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






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






39. These create a domestic need for foreign money






40. Increase aggregate demand during recession






41. LAS curve shifts this way to indicate economic growth






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






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






44. Shield domestic producers from foreign competition






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






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






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






48. Specify maximum import levels for specific commodities






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






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