Economics MCQs

A. World bank
B. International monetary fund
C. Council on foreign relations
D. Organization of petroleum exporting countries

A. Purchase; decrease
B. Purchase; increase
C. Sell; increase
D. Sell; decrease

A. Primary products such as tin and bauxite
B. Intermediate products
C. Labor-intensive agricultural products
D. Labor-intensive manufacturing products

A. Higher than
B. Equal to
C. Lower than
D. There is no general pattern

A. Relatively low import tariffs maintained by advanced countries
B. Highly elastic demand for these products in advanced countries
C. Declines in the supplies of these products on world markets
D. Sluggish demand for these products in advanced countries

A. Developing country export to advanced countries to receive preferential tariff treatment
B. Developing country imports from advanced countries to receive preferential tariff treatment
C. Any developing country to ignore the most-favored nation clause
D. Any advanced country to ignore the most favored-nation clause

A. Lower tariff rates on goods from nations with normal trade relation status
B. Lower tariff rates on goods from nations with most favored nation status
C. Low or zero tariffs on goods from certain developing countries
D. Identical tariff rates in products from all countries of the world

A. The world bank
B. The international monetary fund
C. The generalized system of preferences
D. All of the above

A. Normal trade relation status
B. Most favored nation status
C. Offshore assembly provisions
D. Generalized system of preferences

A. Be a manufactured goods
B. Be a primary product
C. Have high price elasticity of supply
D. Have a low price elasticity of demand