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International Economics Practice Test
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International economics covers the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them.
International economics plays a crucial role in understanding and shaping the global economy. It helps explain the benefits and challenges of international trade, the effects of globalization on different economies, and the impact of economic policies on domestic and foreign markets.

International Economics Practice Test
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25 Questions

1. The Gold Standard was prevalent in the world from:
2. The Basel Committee:
3. If there is a decline in output, to keep the exchange rate fixed, the central bank has to:
4. Which of the following is NOT true about the IBFs?
5. Which one of the following statements is the most accurate?
6. If there were a balance of payments deficit then in a floating exchange rate system:
7. Under a system of floating Exchange rates, relatively low productivity and high inflation rates in the United States result in:
8. When each international transaction undertaken by the residents of a country are entered as a debit and credit entry of equal size, into the balance of payments, the method is known as.
9. Which of the options below is the only characteristic of a free trade area?
10. Free traders maintain that an open economy is advantageous in that it provides all of the following except:
11. If { } > { } when K= capital and L= labour, Pk is price of capital and Pl is price of labour and A and B are countries then
12. All of the following are credit items in the balance of payments, except:
13. Which of the following is NOT true about the reserve currency standard?
14. If the United States government sells military hardware to Saudi Arabia, the transaction would be recorded on the U.S. balance of payments as a:
15. The current account of the U.S. balance of payments does not include:
16. What is 'immiserizing growth'?
17. A trade-diverting customs union results in:
18. Which among the following could be said to be an 'Open Economy'?
19. Which among the following best explains the difference between Trade in Invisibles and merchandise trade?
20. All of the following are debit items in the balance of payments, except:
21. Absolute advantage theory assumes
22. ______________means the measures adopted for avoiding risks.
23. Exchange rates are flexible and fiscal policy is held constant. A Contractionary monetary policywill be
24. If interest rates on the euro are consistently below U.S. interest rates, then for the international Fisher effect (IFE) to hold:
25. If the value of the pound in terms of other currencies rises:

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