How is termed the government’s order to prevent the arrival or departure of merchant ships or to restrict import or export of specified or all goods with a foreign nation ?

Related Mcqs:

1. Restriction on import or export of specified or all goods with a foreign nation by the Government is called ?

   A. Embargo
   B. Contraband
   C. Ban
   D. Restriction

2. 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

3. The booming of North Seas’ gas export revenues in the 1970s that appreciated the guilder, making industrial export more costly in foreign currencies and increasing foreign competition and unemployment is known as ?

   A. Trade deficit
   B. Blind river disease
   C. Dutch disease
   D. Economic turmoil

4. Micheal Roemer’s three-sector model shows that growth in the booming export sector I- reduces the price of foreign exchange II- retards other sectors’ growth by reducing incentives to export other commodities III- reduces incentives to replace domestic goods for imports IV- raises factor and input prices for non-booming sectors ?

   A. I and III only
   B. II and III only
   C. I, II and III only
   D. I, II , III only IV

5. If export contracts are written in terms of foreign currency and import contracts are denominated in domestic currency a depreciation of the dollar during the currency contract period ?

   A. should increase the dollar value of exports
   B. should not have any effect on the dollar value of U.S imports
   C. must increase the balance of trade
   D. All of the above

6. A _______ allows a specified number of goods to be imported each year, and it not specifies from where the product is shipped and who is permitted to import ?

   A. import quota
   B. export quota
   C. selective quota
   D. global quota

7. If a government uses barriers to foreign products such as biases against a foreign company’s bids or product standards that go against a foreign company’s product features the government is using ?

   A. Protectionism
   B. exchange controls
   C. exchange facilitators
   D. nontariff trade barriers

8. Term the written order which directs that a specified sum of money be paid to a specified person ?

   A. Bill of Exchange BE
   B. Bill of Lading
   C. Bearer Cheque
   D. None of them

9. If a nation fitting the criteria for the large nation model imposes an import tariff ?

   A. the domestic price of the product will increase by more than the tariff itself
   B. The domestic price of the product will increase by the same amount as the tariff
   C. The domestic price of the product will increase by less than the tariff
   D. None of the above

10. Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?

    A. purchase; decrease
    B. purchase; increase
    C. sell; increase
    D. sell; decrease