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Foreign Service Officer Test (FSOT) Review: Economics
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Economics: This knowledge area encompasses an understanding of basic economic principles, as well as a general understanding of economic issues and the economic system of the United States.

Foreign Service Officer Test (FSOT) Review: Economics
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25 Questions

1. How does a firm maximize profit?

2. The main gains from subsidies accrue to __, whose international competitiveness is increased as a result of them.

3. Average Fixed Cost

4. Net capital inflows

5. Phillips Curve

6. marginal propensity to save (MPS)

7. Marginal product of labor (MP)

8. Rise

9. Function of the Federal Reserve System #8

10. The two main components of globalization are:

11. The foreign direct investment by non-U.S. firms was motivated primarily by the following two factors:

12. Who pays for ratings of the credit worthiness of countries?

13. Government Spending

14. Competition

15. The most common marketing research technique in developing nations is still:

16. Price index

17. For Substitutes, the cross-price elasticity of demand is - or +?

18. An alleged example of __ occurred in 1997, when two Korean manufacturers of semiconductors, LG Semicon and Hyundai Electronics, were accused of selling dynamic random access memory chips in the U.S. market at below unit delivered cost to market.

19. Monetarist Theory

20. Specific Tax

21. Capitalism

22. Cash on the table

23. The quantity equation

24. What important policy implications evolve from an understanding of Porter's Diamond of National Advantage?

25. Contractual Intermediary

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