[{"id":214237,"question":"In the balance of payments, travel and tourism are included in the category of","choices":[{"text":"unilateral transfers","value":"A"},{"text":"Capital account","value":"B"},{"text":"Merchandise account","value":"C"},{"text":"Services account","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214236,"question":"Debit entries on the balance of payments are the entries that would.","choices":[{"text":"Mean a loss of foreign exchange","value":"A"},{"text":"Bring foreign exchange into the country","value":"B"},{"text":"Indicate a surplus exists","value":"C"},{"text":"Exist at the bottom line a after all accounts are totaled.","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214235,"question":"The current account includes","choices":[{"text":"The value of trade in merchandise","value":"A"},{"text":"Services","value":"B"},{"text":"Unilateral transfers","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214234,"question":"The role of _________ is to direct one nation's savings into investments of another nation","choices":[{"text":"Merchandise trade flows","value":"A"},{"text":"Service flows","value":"B"},{"text":"Current account flows","value":"C"},{"text":"Capital flows","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214233,"question":"All of the following are debit items in the balance of payment eexcept.","choices":[{"text":"Capital outflows","value":"A"},{"text":"merchandise exports","value":"B"},{"text":"Private gifts to foreigners","value":"C"},{"text":"Foreign and granted to other nations","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214232,"question":"All of the following are credit items in the balance of payments except.","choices":[{"text":"Investment inflows","value":"A"},{"text":"Merchandise exports","value":"B"},{"text":"Payment for American service's to foreigners","value":"C"},{"text":"Private give to foreign residents","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214231,"question":"A country transactions with the rest of the world are recorded in the","choices":[{"text":"Balance of international indebtedness","value":"A"},{"text":"Balance of financial transactions","value":"B"},{"text":"Balance of payments","value":"C"},{"text":"Income statement","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214230,"question":"When all of the debit or credit items in the balance of payments are combined","choices":[{"text":"Merchandise imports equal merchandise exports","value":"A"},{"text":"Capital imports equal capital exports","value":"B"},{"text":"Services exports equal service imports","value":"C"},{"text":"the total surplus or deficit equals zero","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214229,"question":"Debit (-) items in the balance of payments correspond to anything that.","choices":[{"text":"Involve receipts from foreigners","value":"A"},{"text":"Involves payments to foreigners","value":"B"},{"text":"Increase the domestic money supply","value":"C"},{"text":"Decrease the demand for foreign exchange","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214228,"question":"Credit (+) items in the balance of payments correspond to anything that.","choices":[{"text":"Involves receipts from foreigners","value":"A"},{"text":"Involves payments to foreigners","value":"B"},{"text":"Increases the domestic money supply","value":"C"},{"text":"Decrease the demand for foreign exchange","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214227,"question":"A country that is a net international debtor initially experiences a.","choices":[{"text":"Larger savings pool available finance domestic spending","value":"A"},{"text":"Higher interest rate which leads lower domestic investment.","value":"B"},{"text":"Loss of funds to trading partners overseas","value":"C"},{"text":"Decrease in tis services exports to other countire.","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214226,"question":"Multinational corporations","choices":[{"text":"Always produce primary goods","value":"A"},{"text":"Always produce manufactured goods","value":"B"},{"text":"Products primary goods or manufactured goods","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214225,"question":"When imports from a higher cost supplier with in customs union replace imports from a lower cost supplier outside the custom union, there exists.","choices":[{"text":"Trade creation","value":"A"},{"text":"Trade diversion","value":"B"},{"text":"Dynamic welfare effects","value":"C"},{"text":"Comprehensive welfare efffects","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214224,"question":"A _________ is a regional trading block in which member countries eliminate intercanal trade barriers but maintain existing barriers against countries that are not members.","choices":[{"text":"Free trade area","value":"A"},{"text":"Customs union","value":"B"},{"text":"Common market","value":"C"},{"text":"Monetary union","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214223,"question":"__________ is a said to exist when the formation of a regional trading group leads to the reduction of trade with nonmember countries infavor of member countries.","choices":[{"text":"Trade creation","value":"A"},{"text":"Trade diversion","value":"B"},{"text":"Trade exclusion","value":"C"},{"text":"Trade distortion","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214222,"question":"The NAFTA is a","choices":[{"text":"Monetary union","value":"A"},{"text":"Free trade area","value":"B"},{"text":"Common market","value":"C"},{"text":"Customs union","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214221,"question":"Poor developing countries typically impose ______ tariffs than rich advanced nations on imports.","choices":[{"text":"Lower","value":"A"},{"text":"Higher","value":"B"},{"text":"About the same height","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214220,"question":"Which of the following organizations primarily provides long term loans to developing countries to help them develop their infrastructure such as schools hospitals and roads.","choices":[{"text":"World Bank","value":"A"},{"text":"International Monetary fund","value":"B"},{"text":"Council on foreign Relations","value":"C"},{"text":"Organization of petroleum exporting countries","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214219,"question":"Developing countries that concentrate production in agricultural products or raw materials may face a long run decline in their international terms of trade because of.","choices":[{"text":"Inelastic demand for these products in advanced countries.","value":"A"},{"text":"Large increase in the supplies of these products on world markets because of export expansion polices","value":"B"},{"text":"sluggish demand for these products in advanced countries","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214218,"question":"__________ policies attempt to foster industrialization by establishing high barriers to import of foreign goods to promote local production.","choices":[{"text":"absolute advantage","value":"A"},{"text":"Comparative advantage","value":"B"},{"text":"Export led growth","value":"C"},{"text":"Import substitution","value":"D"},{"value":"E"}],"correctAnswer":4}]