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






2. Changes the supply of dollars






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






4. Imposed on goods not produced domestically






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






6. Increase aggregate demand during recession






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






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






9. Excise taxes on imported goods






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






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






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






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






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






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






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






17. These create a foreign need for domestic money






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






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






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






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






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






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






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






25. 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






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






27. LAS curve shifts this way to indicate economic growth






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






29. What you give up to get what you want






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






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






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






33. Benefits of international trade






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






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






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






37. An increase in real GDP that occurs over time






38. These create a domestic need for foreign money






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






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






41. Work to achieve full production or capacity potentials






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






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






44. Specify maximum import levels for specific commodities






45. Shield domestic producers from foreign competition






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






47. PPC shifts this way to indicate economic growth






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






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






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