Economics MCQs

A. Trade diversion
B. Trade channeling
C. Trade creation and trade diversion
D. Trade creation

A. Resource; resource
B. Foreign exchange money
C. Opportunity; opportunity
D. Money; opportunity

A. Technological change
B. Competitions with foreign suppliers
C. Development of tourism
D. Lower tariffs

A. A quota
B. Dumping
C. A tariff
D. An export subsidy

A. Increase all domestic costs and prices
B. Keep all domestic costs and prices at the same level
C. Lessen the amount of competition facing home manufacturers
D. Increase the amount of competition facing home manufacturers

A. Imported, but not exported
B. Exported, but not imported
C. Imported and exported
D. Neither exported nor imported

A. Import-competing industries
B. Industries that are only exporters
C. Industries that sell domestically as well as export
D. Industries that neither import nor export

A. Services and white-collar jobs
B. Manufacturing and blue-collar jobs
C. Natural resource extraction and mining jobs
D. Agriculture and farming jobs

A. The industrial policies of governments
B. Different sizes of the countries
C. Different factor endowment between countries
D. The different tastes and preferences of people in different countries

A. The less mobile the country’s resources
B. The more mobile the country’s resources
C. The lower the country’s initial living standard
The higher the country’s initial living standard