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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. Theory of Absolute advantage is
2. The H O theory postulates that as a result of trade the differences in factor prices between nations
3. Which of the following EU countries are sometimes referred to as the PIGS countries?
4. Which among the following are the major assumptions of Absolute advantage theory?
5. The opportunity cost theory assumes that
6. Concerning a country’s business cycle, rapid growth of production and employment is commonly associated with:
7. Under fixed exchange rate, which one of the following statements is the most accurate?
8. Which one of the following statements is the most accurate?
9. In a floating exchange rate system:
10. Which among the following is true with regard to the PPP theory?
11. The burden of a current account deficit would be the least if a nation uses what it borrows to finance:
12. In Autarchy a nations PPC also shows its
13. What are the major drawbacks of tariffs
14. Concerning the U.S. balance of payments, which account is defined in essentially the same way as the net export of goods and services, which comprises part of the country’s gross domestic product?
15. Product transformation curve is also called
16. When a commodity is produced with low K/L ratio that commodity is ______ intensive commodity
17. Credit (+) items in the balance of payments correspond to anything that:
18. Which one of the following statements is the most accurate?
19. Which among the following are differences between Balance of Trade and Balance of Payment?
20. Which among the following is NOT a measure to correct the balance of payment disequilibrium?
21. An increase in foreign income generally leads to:
22. 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
23. What is the effect of a currency devaluation under fixed exchange rates in the short run?
24. A key effect of devaluation is that it
25. Haberler reconstituted comparative advantage theory on the basis of ____

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