Explore topic-wise MCQs in Economics Mcqs.

David Ricardo’s theory in favor of free trade uses the ideal of ?

Economic transition involves high inflation because _____ and ______?

LDCs often have a comparative advantage in the production of ?

If there is a balance of payments deficit then in a floating exchange rate system ?

A reduced share of the world export market for the United States would be attributed to?

A demand switching policy could be ?

What is not a feature of the EU as a single market ?

If the Uk placed a limit on the amount of steel that could be imported into the UK in a particular period this would be an example of ?

Economic integration ?

Tariffs are used to protect infant industries these industries are those which ?

When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?

A tariff causes domestic firms to ________ and consumers to?

The most wave of globalization which began in the 1980s has emphasized the outsourcing of ?

One of the main advantages of trade economists suggest is ?

A country has a comparative advantage in the production of a product if the good’s _____ cost in different from the good’s _____ cost in another country ?

To prevent the external value of the currency from falling the government might ?

Output fell sharply in the transition economies because ?

A significant portion of actual world trade patterns results from ?

The level of the equilibrium exchange rate offsets international differences in ?

If goods are exported for less than society’s marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from?

International difference is opportunity costs lead to countries acquiring ?

If a country can produce 10 of product A or 4 of product B the opportunity cost of 1B is ?

The marginal propensity of consume is equal to ?

The terms of trade measure ?

The theory that states that a country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product is the?

For the United States automobiles are ?

Term of trade for a country are the ratio of _______________ to _____________?

The term tariff, as used in international trade refers to ?

The real income of domestic producers and consumers can be increased by ?

Which American industry has least been affected by import competition in recent years ?

Technological improvements are similar to international trade since they both ?

In a floating exchange rate system ?

International specialization takes place because of______________?

The movement to free international trade is most likely to generate short-term unemployment in which industries ?

Tariffs ?

A main advantage of specialization results from ?

Free trade is based on the principle of ?

If a country has a burden of debt it cannot sustain it can ?

If a nation has an open economy it means that the nation ?

Which of the following is not an argument for protectionism ?

When countries from large trading blocs like the EU, the size of the bloc has the effect of improving them ?

Import substitution is the replacement of ____ by domestic production _____ protection of ________?

For the United States, commercial jetliners are ?

All of the following represent obstacles to LDC development except ?

LDCs are reluctant to pursue development through the export of primary products because of ____ and _____ ?

A feasible effect of international trade is that a (an) ?

A sudden shift from import tariffs to free trade may induce short-term unemployment in ?

International trade tends to cause welfare losses to at least some groups in a country ?

International trade in goods and services tends to ?

International trade in goods and services is sometimes used as a substitute for all of the following except ?