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International Economics
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International Economics
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25 Questions

1. The Exchange rate is kept the same in all parts of the market through
2. Recardo’s Law of Comparitive advantage is based on
3. Given below is a table whowing the maximum amount of wheat and cloth that the UK and U S could produce if they fully utilize all the factors of production with the best technology available indicate the comparative advantage of U K and U S. U K U S - Bushels of wheat 50 120 - Meters of Cloth 150 80
4. Which among the following is an assumption of H-O Theorem
5. When tariffs are imposed
6. The _______________ records all international financial transactions that involve resident of the country concerned- changing either his assets with or his liabilities to a resident of another country.
7. 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
8. The paradox that Growth can make a country worse off is termed as
9. Which among the following are the central themes of Mercantilism?
10. The opportunity cost theory assumes that
11. Devaluation works best when
12. 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.
13. _______________states that international trade will bring about equalization in the returns to homogeneous factors across countries, even without their physical movement.
14. According to HO Model, India should import ______ abundant goods
15. The Absolute advantage theory indicates that a country should engage in the production and exchange of those commodities where it has
16. The trade theory that states that nations should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports is called
17. law of one price prevails when
18. The analysis method used in Leontief’s study
19. Tariffs are
20. ____________states that at constant commodity prices, an increase in the quantity of one factor increases the production of the commodity intensive in this factor and reduces the output of the other commodity which is intensive in the constant factor.
21. A situation where one commodity is capital intensive in one country and labour intensive in another country is called
22. _______________are receipts which the residents of a country receive for free, without making any present or future service transaction in return.
23. __________ is the deliberate downward adjustment in the official exchange rate, reduces the currency's value.
24. A key effect of devaluation is that it
25. Absolute advantage theory assumes

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