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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. Specify maximum import levels for specific commodities






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






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






5. LAS curve shifts this way to indicate economic growth






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






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






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






9. Benefits of international trade






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. A tracking of all export and import goods and services






12. PPC shifts this way to indicate economic growth






13. Increase aggregate demand during recession






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






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






16. Changes the supply of dollars






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






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






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






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






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






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






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






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






25. An increase in real GDP that occurs over time






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






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






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






29. Excise taxes on imported goods






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






31. What you give up to get what you want






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. Shield domestic producers from foreign competition






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






36. Imposed on goods not produced domestically






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






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






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






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






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






42. These create a foreign need for domestic money






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






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






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






46. Work to achieve full production or capacity potentials






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






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






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






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