Economics Mcqs — Test 87
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Question 1
Which of the following is not an argument for protectionism ?
Question 2
Free trade is based on the principle of ?
Question 3
Economists suggest that an optimum tariff would be one which reduce imports to a point where___________?
Question 4
If a group of countries abolish trade barriers between them and set same tariffs on goods coming in from other countries they are a ?
Question 5
Term of trade for a country are the ratio of _______________ to _____________?
Question 6
The term tariff, as used in international trade refers to ?
Question 7
Government payments made to domestic firms in order to encourage exports are called ?
Question 8
The theory that states that a country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product is the?
Question 9
David Ricardo’s theory in favor of free trade uses the ideal of ?
Question 10
Technological improvements are similar to international trade since they both ?