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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. Excise taxes on imported goods






2. PPC shifts this way to indicate economic growth






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






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






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






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






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






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






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






10. Changes the supply of dollars






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






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






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






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






15. LAS curve shifts this way to indicate economic growth






16. Increase aggregate demand during recession






17. 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






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






19. Shield domestic producers from foreign competition






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






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






22. An increase in real GDP that occurs over time






23. What you give up to get what you want






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






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






26. Specify maximum import levels for specific commodities






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






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






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






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






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






32. Benefits of international trade






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






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






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 relationship between real GDP per hour of work and capital per hour of work






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






38. Imposed on goods not produced domestically






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






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






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






42. These create a foreign need for domestic money






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






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






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






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






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






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






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






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






Can you answer 50 questions in 15 minutes?



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