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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. Reducing a current account surplus requires a country to:
2. Which among the following are the major limitations of the H O theorem?
3. When tariffs are imposed
4. Tariffs are
5. Rich countries have deficit in their balance of payments:
6. Which among the following are differences between Balance of Trade and Balance of Payment?
7. Under fixed exchange rate, which one of the following statements is the most accurate?
8. A trade-creating customs union is one where:
9. Which one of the following statements is the most accurate?
10. Which of the following is an example of 'Eurocurrency' trade?
11. Factor endowment theory is also known as
12. Which of the following is NOT true about the gold standard?
13. All of the following are credit items in the balance of payments, except:
14. The ‘Reciprocal Demand Theory’ in International Trade can be attributed to
15. Within the circular flow of income, an increase in domestic income will tend to increase
16. “An Enquiry in to the nature and causes of Wealth of Nations” is written by
17. What is 'immiserizing growth'?
18. Which example of market expectations causes the dollar to appreciate against the yen? Expectations that the U.S. economy will have:
19. Govt. policy about exports and imports is called:
20. Which of the following is true regarding the capital market development since the 1970s?
21. Opportunity cost theory
22. To prevent the external value of its currency rising the government could:
23. Which balance-of-payments item does not directly enter into the calculation of the U.S.gross domestic product?
24. Which among the following best explains the difference between Trade in Invisibles and merchandise trade?
25. Which of the following is considered a capital inflow?

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