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Cbits World Economy Tests 53 questions

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1. Country A can produce 1 ton of wheat or 4 tons of coal, using one unit of resources. Country B can produce 2 tons of wheat and 5 tons of coal, using as a resource unit. It means that
a) A country will export wheat and import coal;
b) country B will export wheat and import coal;
c) A country would not export and import wheat;
g) country B will not be exported and imported coal.
2. If France is exporting wine to England, and England textile exports to France, the increase in the price of wine relative to the price of textiles means
a) improved terms of trade for France;
b) change the angle of the line of trading opportunities in France;
c) changing the angle of the slope of the trading opportunities of England;
d) all of the previous answers are correct.
3. The difference between the import tariffs and quotas is that only duty
a) leads to a reduction in international trade;
b) leads to an increase in prices;
c) brings revenues to the state budget;
d) reduces the living standards in the country.
4. The principle of comparative advantage was first formulated
a) Thomas Malthus;
b) Adam Smith;
c) Paul Samuelson;
d) David Ricardo.
5. Proponents of protectionism argue that the duties, quotas and other trade barriers are needed to
a) the protection of infant industries from foreign competition;
b) increase domestic employment;
c) prevent dumping;
d) ensuring the defense of the country.
6. Countries A and B produce the following quantity of X and Y (in units):

Product X Product Y
Country A
Country B 12
August 16
8
If each country specializes on the basis of comparative advantage, the exchange rate (the terms of trade) will be:
a) 1 unit. X for 1 unit. Y;
b) 1 unit. X 2 units. Y;
c) 1 unit. X for 1 unit. Y;
d) from 1 to 1 unit. X for 1 unit. Y.
7. Which of the following forms of trade barriers is not a significant obstacle to free trade:
a) The duty on imports;
b) voluntary export restraints;
c) the import quota;
d) all of the previous answers are wrong?
8. The table below presents data on volumes of production of cloth and wine in the A and B (only one resource - the work):

Production per hour | Country A Country B
Cloth in meters
Wine, 5 liters
October 15
20
Comparing the two countries and analyzing the possibility of trade between them, it would be true to say that the country has an A
a) an absolute advantage in the production of cloth;
b) an absolute advantage in the production of wine;
c) comparative advantage in the production of cloth;
d) a comparative advantage in the production of wine.
9. First, the two countries there is no mutual trade. A country's currency - but the country's currency B - B. Prices of cloth in countries A and B are, respectively, 20a and 60b. If each country independently produces both goods, the price of wine must be equal, respectively,
a) 5a, 20b;
b) 40a, 45b;
c) 10a, 80B;
d) 10a 60.
10. If the two countries will begin mutual trade, it can be assumed that the country would be B
a) imported wine;
b) the export of wine;
c) to import wine, and cloth;
g) export and wine and cloth.
11. Before the start of the trading process for each country was characterized by its price ratio, which reflects the internal production costs. If between the two countries A and B develop trade, the ratio of the price of wine to the price of the cloth
a) growing in country A to country B falls;
b) A fall in the country, growing in country B;
c) increases in both countries;
g) falls in both countries.
12. If the two countries to establish a stable trade relations, the ratio of the price of the cloth to the price of the wine can be (approximately)
a) 1.2 in both countries;
b) 1.8 in a country A to country B 1.5;
c) 1.6 in both countries;
d) 2.1 in A, 1.3 in the country B.

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14. If the price of the euro dollar fell from 50 to 45 cents per 1 euro, the price of the tape (in dollars) sold in Germany for 150 euros,
a) will decrease by $ 10 .;
b) will decrease by $ 7.50 .;
c) will decrease by $ 5.00 .;
d) will increase by $ 7.50.
15. Part of the balance of payments - current account payments - does not include
a) commodity exports;
b) the net investment income;
c) transport services to foreign countries;
d) changes in the assets of the country abroad.
16. The demand curve shifts to the right on the euro if the
a) real interest rates in France, will be relatively higher, and inflation relatively low (compared to other countries);
b) real interest rates in France, will be relatively low, and inflation is relatively high;
c) and real interest rates and the inflation rate in France will be relatively low;
g) and the real interest rate and the inflation rate in France will be relatively higher.
17. When it is said that the country devalued its currency, it is understood that
a) a country abandoned the gold standard;
b) the internal purchasing power of the currency unit fell;
c) the government raised the price at which it will buy gold;
d) the country celebrated the trade deficit.
18. If the exchange rate of the euro against the US dollar changed from 4 euros to 3 euros for 1 dollar, the price of the euro
a) has risen from 25 cents to 33 cents, while the dollar rose against the euro;
b) has fallen from 33 cents to 25 cents, while the dollar depreciated against the euro;
c) rose from 25 cents to 33 cents, while the dollar devalued against the euro;
g) has risen from 25 cents to 33 cents, while the dollar depreciated against the euro.
19. The system of the gold standard. Country A has substantially increased exports to the country B. In this situation, the price level in country A
a) fall; country B may be changed, perhaps - none;
b) may change, perhaps - no; in country B will decrease.
c) the increase in country B will decrease.
d) will decrease, in country B will increase.
20. How can affect the physical volume of exports and imports of the United States marked decline in the price of the dollar in foreign currencies (such as Pounds Sterling)?
a) exports and imports will rise;
b) exports increase and imports decline;
c) export and import will be reduced;
d) exports decline and imports rise.
21. If the United States and Canada is set freely floating exchange rates, and if the demand for the Canadian dollar rises, it means that
a) Proposal of the Canadian dollar fell or will fall;
b) the price of the Canadian dollar in US currency will fall;
c) the supply of US dollars has decreased;
g) the price of the US dollar in Canadian currency will fall.
22. If the GNP of the United States is reduced, then the system of freely floating exchange rates
a) imports will decrease and the price of the US dollar to rise;
b) the import price and the US dollar will decline;
c) the import price and the US dollar will continue to grow;
d) imports will grow and the price of the US dollar decline.
23. If US corporations pay high dividends (in USD) for foreigners, the
a) it may lead to a depreciation of the dollar;
b) this may lead to an increase in the dollar;
c) in the United States will move gold as compensation for departed from dollars;
d) imports into the US will increase, offsetting gone abroad for dollars.
24. The balance of payments surplus will increase if the country
a) decrease real interest rates;
b) increase the rate of inflation;
c) increase the rate of economic growth;
d) none of the above does not happen.
25 Spain decides to establish control over foreign trade that would reduce the current account deficit. One result of this decision will be a reduction
a) inflation in the country;
b) economic growth;
c) Spanish exports;
d) Spanish imports.

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