Someone who is in favor of free trade would argue that

tariffs will not only hurt imports, but exports as well.

The International Monetary Fund (IMF)

is the world's largest provider of development assistance.

Why would a country want to host an international corporation?

It allows for an increase in employment opportunities.

In order to become an entrepreneur you must

have access to funds in order to start a business.

One of the advantages to free trade agreements is that it

allows consumers access to cheaper goods.

A trade deficit occurs when

a nation imports more than it exports

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International Trade

10 termsStudBud Administration865 plays

Review for International Trade

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Questions 10

Answers

1
Someone who is in favor of free trade would argue that
national security depends on us producing our own goods.
tariffs will not only hurt imports, but exports as well.
free trade agreements decrease international cooperation.
trade increases the unemployment rate as jobs leave.
2
If a country can absolutely produce more of a certain good than they have
comparative advantage.
absolute advantage.
economy.
opportunity cost.
3
The International Monetary Fund (IMF)
only focuses on developed nations and their industry.
is the world's largest provider of development assistance.
creates free trade agreements with developed nations.
has no bearing on global economic development.
4
Why would a country want to host an international corporation?
It increases the amount of pollution in the host country.
It allows for an increase in employment opportunities.
The host country loses tax revenue.
Locals are exposed to unhealthy American habits.
5
In order to become an entrepreneur you must
have at least a high school education.
live in a country where the government makes all decisions.
have access to funds in order to start a business.
be physical capital.
6
In Living on One Dollar people only grow enough food to feed their family this is an example of
subsistence farming.
entrepreneurship.
a corporation.
industrialization.
7
One of the advantages to free trade agreements is that it
inhibits international trade.
stops a flow of ideas and capital globally.
allows consumers access to cheaper goods.
creates a loss of jobs.
8
If Mexico can make agricultural products at a lower opportunity cost, they have
absolute advantage.
economics.
opportunity cost.
comparative advantage.
9
Which countries have to answer the basic economic questions?
all nations
free enterprise nations
developed nations
free trade nations
10
A trade deficit occurs when
there are no imports or exports
a nation export more than they import
a nation's imports equal their exports
a nation imports more than it exports

International Trade Flashcards | StudBud