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






2. These create a foreign need for domestic money






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






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






5. Benefits of international trade






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






7. Shield domestic producers from foreign competition






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






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






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






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






12. These create a domestic need for foreign money






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






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






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






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






17. An increase in real GDP that occurs over time






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






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






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






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






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






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






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






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






26. PPC shifts this way to indicate economic growth






27. What you give up to get what you want






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






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






30. Excise taxes on imported goods






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






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






33. 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






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






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






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






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






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






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






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






41. Specify maximum import levels for specific commodities






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






43. Changes the supply of dollars






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






45. LAS curve shifts this way to indicate economic growth






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






47. Work to achieve full production or capacity potentials






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






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






50. Increase aggregate demand during recession