A policy of developing local industries that can compete with imports is referred to as
Export promotion
Unbalanced growth
Industrial promotion
Import substitution
Economic theory :
Seeks to explain economic events
Seeks to predict economic events
Abstracts from the many details that surrounds an economic event
All of the above
According to Adam smith , International trade was based on:
Absolute advantage
Comparative advantage
Both absolute and comparative advantage
Nether absolute nor comparative advantage
Which of the following is not the subject matter of International finance?
Foreign exchange markets
The balance of payments
The basis and the gain from trade
Polices to adjust balance of payments duse equilibria
What proportion of International trade is based on absolute advantage ?
All
Most
Some
Constant
International trade theory refers to
The microeconomic aspects of international trade
The macroeconomic aspects of International trade
Open economy macroeconomic or International finance
Which of the following is not an assumption generally made in the study of International economics ?
Two nations
Two commodities
Perfect International al mobility of factors
Two factors of products
Which of the following products are not produced at all in the United States?
Coffee,tea,cocoa
Steel, copper , aluminium
Petroleum , coal , natural gas
Type writers, computers , airplanes
International economics deals with
The flow of goods , services and payments among nations
Policies directed at regulating the flow of goods , services and payments
The effects of polices on the welfare of the nation
International Trade is most important to the standard of living of :
The united states
Switzerland
Germany
England
