Terminology Online Test With Answers

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Terminology Online Test

Sr. # Questions Answers Choice
1 earning form primary products are often us unstable because:
 Demand is price elastic <br> Supply is price elastic <br> Supply conditions are relatively stable <br> Supply conditions are unstable <br>
2 What is Tariffs?
 Decrease the domestic prices of a product<br> Increase the quantity of imports <br> Decrease domestic production <br> Increase government earnings form tax <br>
3 In the short term a firm will firms produce provided the revenue:
 Covers fixed costs <br> Covers variable costs <br> Covers total costs <br> Covers revenue <br>
4 World trade has been increasing due to:
 Increased tariffs<br> Increased legal barriers&nbsp; <br> Increased embargoes <br> Reduced protectionism <br>
5 Finding a partner to works with abroad is called a:
 Takeover <br> Merger <br> Acquisition&nbsp; <br> Joint venture <br>
6 Globlization is made more difficult by:
 The actions of the world Trade organization<br> The removal of protectionist measure <br> Exchange rate instability <br> More free trade agreements <br>
7 A multinational business:
 Sells products abroad <br> Produces in more than one country <br> Imports form abroad <br> Sells only domestically <br>
8 Demand for Primary products is likely to be:
 Very sensitive to price <br> Price elastic <br> Unit elastic <br> Income inelastic <br>
9 If the economy grows the government's budget position will automatically:
 Worsen <br> Improve <br> Stay the same <br> Increase with inflation <br>
10 An expansionist fiscal policy could include:
 Lower interest rates <br> Increased landing by the banks <br> An increase in corporation tax <br> An increase in discretionary nary government spending <br> <br>
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