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Test your basic knowledge |
CLEP Macroeconomics: International
Start Test
Study First
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
exports
import quotas
change in interest rate
Balance of International Payments
2. Excise taxes on imported goods
productivity function
foreign exchange rate
tariffs
outward
3. Quantity and quality of a nation's natural resources - human resources - capital stock - and technology
supply factors of economic growth
industrial growth policies
how Fed influences exchange rate
demand side growth policies
4. A global market in which the currency of one country is exchanged for the currency of another country
tariffs
decrease
foreign exchange market
productivity function
5. Specify maximum import levels for specific commodities
revenue tariffs
classical growth theory
new growth theory
import quotas
6. Benefits of international trade
non-tariff barriers
specialization and increased production
three factors that determine how much money will be demanded
how exchange rate is determined
7. Government interference in protecting certain industries comes at the expense of...
trade in similar goods
supply side growth policies
demand side growth policies
other industries and consumers
8. LAS curve shifts this way to indicate economic growth
rightward
how Fed influences exchange rate
balance of trade
appreciates
9. If the number of Nation B's dollars that Nation A buys decreases - then Nation A's dollar ___________.
revenue tariffs
foreign exporter
depreciates
how exchange rate is determined
10. The exchange rate - interest rates in that country and other countries - and the expected future exchange rate
three factors that determine how much money will be demanded
non-tariff barriers
trade in similar goods
current account
11. A tracking of all export and import goods and services
capital-intensive
demand
current account
appreciates
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
supply of dollars
the one-third rule
supply side growth policies
other industries and consumers
13. Advocate government taking an active role in the structure and composition of industry
industrial growth policies
non-tariff barriers
exchange rate
specialization and increased production
14. As the value of a nation's currency increases the exports of that nation will ________.
foreign exchange market
industrial growth policies
decrease
trade in similar goods
15. Nations with a larger available land mass are better at producing these kinds of commodities
supply side growth policies
decrease
protective tariffs
land-intensive
16. If the interest rate decreases - the demand for the currency will
foreign exchange market
tariffs
increase
appreciates
17. Relationship between the quantity of currency to be sold and the exchange rate is the...
supply of dollars
foreign exchange market
appreciates
new growth theory
18. Is the price at which the currency of one country is exchanged for the currency of another country
neoclassical growth theory
foreign exchange rate
labor-intensive
revenue tariffs
19. Imposed on goods not produced domestically
foreign exchange rate
import quotas
revenue tariffs
outward
20. Increase aggregate demand during recession
demand side growth policies
how Fed influences exchange rate
foreign exchange market
labor-intensive
21. The addition of all goods and services in the current account
balance of trade
growth accounting
exchange rate
foreign exchange market
22. If the number of Nation B's dollars that a Nation A dollar buys increases - then Nation A's dollar ___________.
land-intensive
trading possibilities line
free trade
appreciates
23. The attempt to measure the contributions to growth of labor - capital - and technological change
growth accounting
appreciates
import quotas
rightward
24. What you give up to get what you want
opportunity cost
outward
protective tariffs
increase
25. These create a domestic need for foreign money
current account
demand side growth policies
imports
productivity function
26. Nations with advanced industries are better at producing these kinds of commodities
supply factors of economic growth
increase
labor-intensive
capital-intensive
27. The relationship between real GDP per hour of work and capital per hour of work
non-tariff barriers
neoclassical growth theory
how Fed influences exchange rate
productivity function
28. Protective tariffs increase the domestic price of a good and the increased revenue goes to the...
domestic government
efficiently/fully
foreign exchange market
the one-third rule
29. By the supply and demand in the foreign exchange market
how exchange rate is determined
rightward
industrial growth policies
imports
30. By influencing interest rates and direct intervention in the foreign exchange market
how Fed influences exchange rate
domestic government
decrease
General Agreement of Tariff and Trade
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
non-tariff barriers
foreign exchange market
import quotas
how Fed influences exchange rate
32. A tracking of the investments made and loans extended to other countries
supply side growth policies
capital account
balance of trade
foreign exporter
33. Small tariffs put in place so the government can earn tax revenue
domestic government
economic growth
current account
revenue tariffs
34. A theory of economic growth based on the view that population growth is determined by income per person
import quotas
classical growth theory
other industries and consumers
exchange rate
35. Work to achieve full production or capacity potentials
depreciates
supply factors of economic growth
supply side growth policies
rightward
36. PPC shifts this way to indicate economic growth
demand side growth policies
outward
land-intensive
supply of dollars
37. A theory of economic growth based on the idea that technological change results from people's choices and pursuit of profit
outward
new growth theory
domestic government
the one-third rule
38. A theory of economic growth that believes growth is driven by technological change
depreciates
increase
three factors that determine how much money will be demanded
neoclassical growth theory
39. Records all the transactions that take place between residents and foreign nations
free trade
increase
new growth theory
Balance of International Payments
40. The total output will be greatest when each good is produced by that nation that has the lower opportunity cost for that good
current account
comparative advantage
free trade
efficiently/fully
41. Growth potential cannot be reached unless AD increases and new resources are used...
efficiently/fully
foreign exchange rate
exports
supply of dollars
42. A change in interest rates or a change in the expected future exchange rate changes the _________ for dollars.
growth accounting
foreign exchange rate
demand
capital account
43. Shows the options one nation has by specializing in one product and trading another
how exchange rate is determined
the one-third rule
trading possibilities line
exports
44. An increase in real GDP that occurs over time
new growth theory
other industries and consumers
economic growth
growth accounting
45. Changes the supply of dollars
free trade
change in interest rate
capital-intensive
how exchange rate is determined
46. A forum for negotiating reduction of tariff barriers on a multilateral level
General Agreement of Tariff and Trade
exchange rate
protective tariffs
demand side growth policies
47. Occurs because of diversity of taste and economies of scale
supply of dollars
increase
revenue tariffs
trade in similar goods
48. Nations with a more highly skilled and larger workforce are better at producing these kinds of commodities
labor-intensive
current account
General Agreement of Tariff and Trade
capital-intensive
49. A change in this brings about a change in how much a country is willing to sell of its currency
three factors that determine how much money will be demanded
increase
exchange rate
other industries and consumers
50. The absence of government barriers to trade among firms and individuals in different nations
depreciates
exports
free trade
growth accounting