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CLEP Macroeconomics: International
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CLEP Macroeconomics: International
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25 Questions

1. What you give up to get what you want

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

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

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

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

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

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

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

9. LAS curve shifts this way to indicate economic growth

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

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

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

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

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

15. Specify maximum import levels for specific commodities

16. These create a domestic need for foreign money

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

18. Shield domestic producers from foreign competition

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

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

21. Benefits of international trade

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

23. Work to achieve full production or capacity potentials

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

25. These create a foreign need for domestic money

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