Multiple Choice
Identify the
choice that best completes the statement or answers the question.
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1.
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Whose theory of Comparative Advantage forms the basis of the rationale for world
trade?
a. | Porter | b. | Ricardo | c. | Sarathy | d. | Kotler | e. | Vernon |
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2.
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Which are the most common forms of tariff?
a. | Ad valorem and selective | b. | Selective, specific and
discriminatory | c. | Discriminatory, specific and selective | d. | Ad valorem, discriminatory and
selective | e. | Specific, discriminatory and ad valorem |
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3.
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The official name for the World Bank is the
a. | International Bank for Reconstruction and Development | b. | International
Monetary Fund | c. | World Trade Organisation | d. | International Development
Association | e. | World Central Bank |
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4.
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The organisation whose primary purpose is to provide financial and technical
help for the development of poorer countries is the
a. | International Monetary Fund | b. | World Bank | c. | International
Development Association | d. | World Trade Association | e. | United
Nations |
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5.
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The WTO promotes trade by:
a. | working to reduce tariff | b. | eliminating discrimination against foreign
products and services | c. | prohibiting import/export bans and
quotas | d. | eliminating non-tariff barriers | e. | all of the
above |
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6.
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Which type of trade association would be concerned with the removal of internal
tariffs and some reduction of non-tariff barriers in all or most sectors?
a. | Bilateral trade treaty | b. | Multilateral trade treaty | c. | Trade preference
agreement | d. | Free trade area | e. | Economic
cooperation |
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7.
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What does APEC stand for?
a. | Association of Pacific Economic Communities | b. | Asia Pacific
Economic Cooperation | c. | Asian Pacific and Eurasian
Communities | d. | Association of Pacific Economic Cooperation | e. | Association of
Pacific Economic Collaboration |
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8.
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Which of the following is not in ASEAN?
a. | Thailand | b. | Australia | c. | Brunei | d. | Laos | e. | Myanmar |
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9.
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Which of the following has the most involved level of association between
countries?
a. | Sectoral Free Trade Agreement | b. | Bilateral Trade Treaty | c. | Economic
Cooperation | d. | Free Trade Area | e. | Trade Preference
Agreement |
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10.
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What is the core mission of the WTO?
a. | To enforce trade tariffs | b. | To keep salt prices at a stable
price | c. | To facilitate international trade and investment | d. | To broker
agricultural products between companies | e. | To encourage inward
investment |
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