A. Close-trade zone
B. Free trade zone
C. Both of them
D. None of them
Related Mcqs:
- When several countries jointly impose common external tariffs, eliminate tariffs on each other, and eliminate barriers to the movement of labor and capital among themselves, they have formed a/na ?
A. free trade area
B. customs union
C. common market
D. economic union - Term the group of countries that have removed all restrictions on trade among themselves?
A. Close-Trade zone
B. Free-trade zone
C. Both of them
D. None of them - What is called the trade without restriction of tariffs, quotas, or foreign exchange controls ?
A. Open trade
B. Free trade
C. Open sky trade
D. Easy trade - A way helping depressed regions by having wage subsidies lower business taxes and capital subsidies has been suggested as ?
A. New classical economists.
B. Left wing theorists
C. interventionist policies.
D. monetarists. - A way of helping depressed regions by having wage subsidies lower business taxes and capital subsidies has been suggested as ?
A. New classical economists
B. left-wing theorists
C. interventionist policies
D. monetarists - If a group of countries abolish trade barriers between them and set same tariffs on goods coming in from other countries they are a ?
A. common market
B. free trade area
C. customs union
D. federation - In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?
A. Px/Pm
B. Pm/Px
C. (Pm/Px)Qm
D. (Px/Pm)Qx - For year the U.S government levied quotas on inexpensive oil imported from the Middle East The quotas led to cost increases for U.S consumers totaling $3 billion for oil products. An apparent justification of this policy was that ?
A. U.S oil companies and workers deserved higher incomes
B. U.S oil was of superior quality and merited higher prices
C. one should not be too dependent on foreign suppliers of crucial resources
D. The U.S government needed the quota revenue to balance its budget - Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is ________ and the total number of countries forming the customs union is _________?
A. relatively high; relatively large
B. relatively high; relatively small
C. relatively low ; relatively large
D. relatively low ; relatively small - Term the interchange of commodities across political frontiers without restriction such as tariffs, quotas, or foreign exchange controls ?
A. Open trade
B. Free trade
C. Open sky trade
D. Easy trade
