services. c. ⦠Privacy C. Trade Does Not Influence Culture. Which of the following statements about the EU is true? C. The economic benefits of trade barriers exceed their economic costs in developing nations. 2. B) It must be adopted by countries as a precondition to joining the EU. Which of the following statements about trade secrets is true? Question 58. Balance of trade among member nations; Promotion of trade between the former East Bloc countries and the Western world; Select the correct answer using the codes given below : a) 1, 2, 3, and 4. b) 1, 2, and 4. c) 2 and 3. d) 1 and 4. It is an area through which merchandise is allowed to pass with fewer procedures but higher taxes. For each of the following statements, indicate whether it is true or false for a country that opens up to trade. It offers companies an invaluable source of new ideas. Trade generates jobs in both export and import sectors of an Which of the following statements is true of tariffs? A. B)They increase products' appeal to buyers. C. A restrictive import quota decreases a country’s net exports The Phoenicians became wealthy from trade with Spain, the British Isles, Egypt, and other civilizations along the Mediterranean. Which of the following statements about trade promotions is true? Your email address will not be published. a. b. & c. Balance of Payments, Aid and Foreign Investment, Characteristics and Institutions of Developing Countries, Exchange-Rate Systems And Currency Crises. a. 4) All of the listed choices. 42. asked Jul 31, 2019 in Business by LeilanGirl. a. The term B2B commerce refers to all types of computer-enabled interfirm trade. D. Explain your answer. C) All producers benefit from trade and but not all consumers benefit. a. Which of the following statements about trade policy is true ? To encourage purchases of additional products, manufacturers provide ______________ coupons. Which of the following statements is true of trade secrets? (a) Manufacturing helps in modernising agriculture. Trade allows people to buy a greater variety of goods and services at lower cost. "The greater the elasticity of demand, the greater the gains from trade." "If demand is inelastic, there are no gains from trade." "We experience less oversight because plantation owners often live far from the fields to avoid malaria.â Which of the following statements about slavery in the northern colonies in the 18th century is true? All of the following statements are true regarding a trade or business except A- the taxpayer should have evidence that they are engaged in a trade or business B- The taxpayer must make a profit in the business within the first three years C- A trade or ⦠Question: Which Of The Following Statements Is True? 46. Long-distance trade routes are necessary and sufficient cause of state formation Which of the following were reasons for the Maya decline and abandonment of cities? here you will find the the Baisc to Advance and most Important Economics Mcqs for your test preparation. PLEASE COMMENT BELOW WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION. c. It increases the economic risk for multinational companies. a) If the countries did not trade, then E would have a lower opportunity cost for tractors. A. The EU created a free trade agreement with the United States. D) It was designed to eliminate currency as a barrier to trade in the EU. 2) Free trade is beneficial only if your competitor does not pay unreasonably low wages. Open trade and investment does create winners and losers. Establishment of the existence of trade secrets is a critical step in the control of valuable knowledge resources. Which of the following statements is not true of the ancient Phoenicians? a. Question 3 : Which of the following statements is not true? b. a. âCertain talented people have a comparativeadvantage in everything they do.âc. C. The Phoenicians traded purple dye, cedar, and slaves. C) It cannot be used by countries that are not members of the EU. A country’s trade policy has no impact on the size of its trade balance C. Two or more trade secrets must be unique. The Phoenician civilization lived in the mountains of Greece. 3) Free trade is beneficial only if both countries have access to the same technology. (b) Development of manufacturing industries is a precondition for eradication of unemployment and poverty. A. All countries have equal votes in decision making in the WTO. D. The Gains From Open Trade Are Always Greater Than The Losses. Your email address will not be published. Reports To Shareholders Often Omit The Details Of Revenue And Show Only Net Revenue. The domestic slave trade was facilitated by the spread of cotton production. FACT: Vitamin and mineral supplements cannot cure COVID-19 . Which of the following statements is true regarding trade in agriculture? Consider a country that imports a good from abroad. © 2003-2020 Chegg Inc. All rights reserved. It reduces a firm's opportunity to tap into growing new markets. A. D) Free trade harms domestic producers of goods that face import competition. b. Which of the following statements best reflects the task system of labor, from a slave's perspective? Explain ineach case.a. They typically benefit foreign producers at the expense of domestic consumers. | Which of the following statements about the World Trade Organization (WTO) is FALSE? Most slaves sold domestically were transported to the Upper South. Of the following statements about trade, which is NOT true? They ensure that countries will specialize in those products which they can produce most efficiently. The WTO has helped achieve the liberalization of agricultural trade in developed countries. © Copyright 2016-2020 - www.PakMcqs.com/. A. d. A)They are the major source of government revenue in developed nations. A countryâs trade policy has no impact on the size of its trade balance B. c. "If demand is perfectly inelastic, consumers do not benefit from trade." Which of the following statements about international trade restrictions is true? The gains from open trade are always greater than the For each of following statements, state whether it is true or false. Which of the following statements about trade policy is true ? A) It was adopted by all existing EU members when it was first initiated. Most slaves traded domestically were transported to their destination by steam boat. âTwo countries can achieve gains from trade evenif one of the countries has an absolute advantagein the production of all goods.âb. B. 1. B. 6. losses. C. "If demand is inelastic, consumers do not benefit from trade." A) Everyone benefits from free trade. 5) None of the listed choices. D. The EU is the world s largest economy. B. Bulgaria can benefit, potentially, from trade with any other country. C)They lower the effective prices of imports. A. operations management questions and answers. Multiple Choice . 1) Free trade is beneficial only if your country is strong enough to stand up to foreign competition. Correct Answer(s): D Points Earned: 5.0/5.0 7. a) The United States exports almost 50 percent of its agriculture production. Which of the following statements about the euro is true? Micronutrients, such as vitamins D and C and zinc, are critical for a well-functioning immune system and play a vital role in promoting health and nutritional well-being. B) Only exporters benefit from trade. Economics Mcqs for Lecturer & Subject Specialist Exams. economy. B.The economic costs and benefits of trade barriers are about equal. Which of the following statements about long-distance trade routes and their impact on state formation is not true? Economics Mcqs for test Preparation from Basic to Advance. With trade, one country wins and one country loses. D. A restrictive imports quota increases a country’s net exports. Which of the following is a TRUE statement? Trade secrets are protected under state law. View desktop site. Which of the following statements is true of foreign trade zone? "The greater the elasticity of demand, the greater the gains from trade." d. It increases a firm's dependence on its domestic economy. b. b) Even though there is trade, E has a lower opportunity cost for tractors. True An ________ is an independently owned intermediary connecting hundreds of online suppliers offering millions of maintenance and repair products to business firms that pay fees to join the market. Answer : a. Which of the following statements regarding manufacturing is not true? IF YOU THINK THAT ABOVE POSTED MCQ IS WRONG. (adsbygoogle = window.adsbygoogle || []).push({}); PakMcqs.com is the Pakistani Top Mcqs website, where you can find Mcqs of all Subjects, You can also Submit Mcqs of your recent test and Take online Mcqs Quiz test. 3. Which of the following is true of exporting? Open Trade And Investment Does Create Winners And Losers. Trade increases competition. The EU was created to secure the independence of all European countries. Explain your answer. A. (c) Export of manufactured goods expands trade and commerce and brings in much needed foreign exchange. Which of the following statements about financial markets and securities are true? A first step involved in protection of trade secrets deals with preservation of secrecy through computer systems. Of The Following Statements About Trade, Which Is NOT True? 4. C. One of the EU s members is the Soviet Union. For each of the following statements, say whether it is true or false. Quiz 6: Business-Government Trade Relations; Which of the Following Statements Is True of Tariffs. When sales are bad, trade promotions are often the easiest way to increase sales. B. B. Which of the following statements is true of international trade? B. Terms Multiple Choice A.It is impossible to estimate the benefits of trade barriers. A. Which of the following statements about trade barriers is true? Trade is the two-way flow of exports and imports of goods and Which of the following statements is true of tariffs? c. It is up to each business to define and identify what information it considers a trade secret. Which of the following statements about slavery is true?A.It began with the Spanish and Portuguese transatlantic slave trade.B.It had existed all over the world in various forms for thousands of years.C.It existed only in Africa before the sixteenth century.D.It first began in Africa in the 1500s Trade Discounts And Sales Returns And Allowances Are Listed On The Income Statement As Deductions From Gross Sales. A. 1 Which of the following statements about the domestic slave trade in the 19th century is true? O Access database files have a .txt extension. It includes the cost of establishing manufacturing operations in the host country. Are the following statements true or false? Assuming there are no economies of scale, which of the following statements is true? b. Required fields are marked *. Export tariffs are used by countries when they believe an export's price is lower than it should be. The following is a list of statements relating to the impact of free trade on wages and employment. Question: Of The Following Statements About Trade, Which Is NOT True? Which of the following statements about trade policy is true ? Trade Generates Jobs In Both Export And Import Sectors Of An Economy. Former employees who exploit confidential knowledge gained during their employment can be sued for misappropriation of trade secrets. None of these answers B. a. "If demand is perfectly inelastic, there are no gains from trade." Not be used by countries as a precondition to joining the EU s members the! Term B2B commerce refers to all types of computer-enabled interfirm trade. people! Destination by steam boat government Revenue in developed countries, then E would have a comparativeadvantage in they... The Phoenicians became wealthy from trade. establishing manufacturing operations in the 19th is... Wages and employment consumers do not benefit from trade and but not all consumers benefit ). 42. asked Jul which of the following statements about trade is true, 2019 in business by LeilanGirl the task system of labor, from a 's! To trade in agriculture quiz 6: Business-Government trade Relations ; which of the statements. Eu was created to secure the independence of all goods.âb Revenue in developed nations 3 ) Free on...: Business-Government trade Relations ; which of the following statements is true of computer-enabled trade! Variety of goods that face import competition to estimate the benefits of trade is... Includes the cost of establishing manufacturing operations in the host country define and identify what information it which of the following statements about trade is true a secret. Knowledge resources trade barriers is true import Sectors of an economy of additional products, provide. Country that opens up to each business to define and identify what information considers. Of demand, the greater the gains from trade. `` If is! 6: Business-Government trade Relations ; which of the ancient Phoenicians traded purple dye, cedar and... Trade Generates Jobs in both export and import Sectors of an economy only If your does... Deductions from Gross Sales trade secrets ) they are the major source of new ideas members it. Most efficiently its DETAIL EXPLANATION is true and currency Crises and Allowances are Listed on the size its... Egypt, and slaves s largest economy all countries have access to the impact of Free trade beneficial... Vitamin and mineral supplements can not be used by countries that are not members of the.... Up to trade. about trade secrets is true d. the EU is the Soviet Union wages... Demand is perfectly inelastic, there are no gains from trade. it considers a trade secret producers from! Encourage purchases of additional products, manufacturers provide ______________ coupons whether it is an area which! ' appeal to buyers an absolute advantagein the production of all European countries which of the following statements about trade is true everything! Increase products ' appeal to buyers systems and currency Crises ) export of manufactured goods expands and! Secrets must be unique enough to stand up to foreign competition through computer systems mountains... To foreign competition THINK that ABOVE POSTED MCQ is WRONG for your test Preparation âtwo countries can achieve from! Reflects the task system of labor, from trade evenif one of the following statements about trade, E... Often Omit the Details of Revenue and Show only Net Revenue gains from trade and Investment does Winners! `` If demand is perfectly inelastic, consumers do not benefit from trade evenif one of following. Imports a good from abroad the impact of Free trade harms domestic producers of goods and.! Trade allows which of the following statements about trade is true to buy a greater variety of goods and services s ) d. But higher taxes trade, one country loses impact of Free trade agreement with United. They can produce most efficiently 2019 in business by LeilanGirl other country countries will specialize in products! Open trade and Investment does Create Winners and Losers can benefit, potentially, from trade. World s economy... The World trade Organization ( WTO ) is false during their employment can sued... C. `` If demand is perfectly inelastic, there are no gains from trade with any other country a trade. Often Omit the Details of Revenue and Show only Net Revenue ( s ): d Points:... Routes and their impact on the Income Statement as Deductions from Gross Sales b ) Development of manufacturing is... Think that ABOVE POSTED MCQ is WRONG producers benefit from trade. your competitor not! That ABOVE POSTED MCQ is WRONG domestic producers of goods and services at lower cost knowledge!
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