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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 foreign need for domestic money






2. Excise taxes on imported goods






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






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






5. Specify maximum import levels for specific commodities






6. Benefits of international trade






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






8. LAS curve shifts this way to indicate economic growth






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






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






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






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






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






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






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






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






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






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






19. Imposed on goods not produced domestically






20. Increase aggregate demand during recession






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






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






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






24. What you give up to get what you want






25. These create a domestic need for foreign money






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






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






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






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






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






31. 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






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






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






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






35. Work to achieve full production or capacity potentials






36. PPC shifts this way to indicate economic growth






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






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






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






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






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






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






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






44. An increase in real GDP that occurs over time






45. Changes the supply of dollars






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






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






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






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






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