Economics International & National Tarde Test 02 Mcqs Preparation Online International & National Tarde Test 02 Mcqs Preparation Online 1. In a free trade world in which no restrictions exist, international trade will lead to?A. Reduced real living standard B. Decreased efficiency C. Increased efficiency D. Reduced real GDP Loading... 2. Term of trade of a country show?A. (a) and (c) of aboveB. Ratio of prices of exports and imports C. Ratio of import duties D. Ratio of goods exported and imported Loading... 3. Terms of trade of developing countries are generally unfavourable because?A. They import value added goods B. They export few goods C. They export primary goodsD. (a) and (b) of above Loading... 4. Govt. policy about exports and imports is called?A. Commercial policy B. Monetary policy C. Finance policyD. Fiscal policy Loading... 5. Two countries can gain from foreign trade if?A. Tariff rates are different B. (a) and (c) of aboveC. Cost ratios are different D. Price ratios are different Loading... 6. Dumping refers to?A. Buying goods at low prices abroad and selling at higher prices locallyB. Sale of goods abroad at low a price, below their cost and price in home marketC. Reducing tariffs D. Expensive goods selling for low prices Loading... 7. According to Hecksher and Ohlin basic cause of international trade is?A. Difference in ideologyB. Difference in factor endowments C. Difference in political systems D. Difference in markets Loading... 8. All are advantages of foreign trade EXCEPT?A. Optimum utilisation of country's resourcesB. People get foreign exchange C. Cheaper goods D. Nations compete Loading... 9. International trade and domestic trade differ because of?A. All of the aboveB. Immobility of factors C. Trade restrictions D. Different government policies Loading... 10. What would encourage trade between two countries?A. Frontier checks B. National currencies C. Reduced tariffsD. Different tax system Loading... Loading... Related PostsInternational & National Tarde Test 06 Mcqs Preparation…International & National Tarde Test 05 Mcqs Preparation…International & National Tarde Test 04 Mcqs Preparation…International & National Tarde Test 03 Mcqs Preparation…International & National Tarde Test 01 Mcqs Preparation…International Economic Organisations Test 01 Mcqs… Continue Reading Previous International & National Tarde Test 01 Mcqs Preparation OnlineNext International & National Tarde Test 03 Mcqs Preparation Online Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Δ