International & National Tarde Test 02 Mcqs Preparation Online Shani Malik — May 19, 2018 in Economics • add comment International & National Tarde Test 02 Mcqs Preparation Online 1. What would encourage trade between two countries?A. Different tax system B. Frontier checks C. National currencies D. Reduced tariffs Loading... 2. In a free trade world in which no restrictions exist, international trade will lead to?A. Reduced real GDPB. Decreased efficiency C. Reduced real living standard D. Increased efficiency Loading... 3. Terms of trade of developing countries are generally unfavourable because?A. They export few goods B. They export primary goodsC. (a) and (b) of aboveD. They import value added goods Loading... 4. All are advantages of foreign trade EXCEPT?A. Cheaper goods B. Nations compete C. Optimum utilisation of country's resourcesD. People get foreign exchange Loading... 5. Govt. policy about exports and imports is called?A. Monetary policy B. Commercial policy C. Finance policyD. Fiscal policy Loading... 6. According to Hecksher and Ohlin basic cause of international trade is?A. Difference in ideologyB. Difference in political systems C. Difference in factor endowments D. Difference in markets Loading... 7. Two countries can gain from foreign trade if?A. (a) and (c) of aboveB. Tariff rates are different C. Price ratios are different D. Cost ratios are different Loading... 8. International trade and domestic trade differ because of?A. Trade restrictions B. All of the aboveC. Immobility of factors D. Different government policies Loading... 9. Term of trade of a country show?A. Ratio of prices of exports and imports B. Ratio of import duties C. Ratio of goods exported and imported D. (a) and (c) of above Loading... 10. Dumping refers to?A. Expensive goods selling for low prices B. Buying goods at low prices abroad and selling at higher prices locallyC. Reducing tariffs D. Sale of goods abroad at low a price, below their cost and price in home market Loading... Loading...
