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General Knowledge

IMPORTANT FINANCIAL MCQs

Important Financial, Finance, International Trade And Finance

Total Questions : 66 | Page 7 of 7 pages
Question 61. Which of the following was instrumental in creating the global economy that exists today?
  1.    The use of high taxes for imports and exports
  2.    Improvements in technology such as the Internet
  3.    The creation of one form of currency (money) used to trade
  4.    The success of the Communist governments in guiding trade
 Discuss Question
Answer: Option B. -> Improvements in technology such as the Internet
Question 62. The exchange of goods and services by sale or barter driven by the need for resources
  1.    Fair Trade
  2.    Globalization
  3.    Trade
  4.    Standard of Living
 Discuss Question
Answer: Option C. -> Trade
Question 63. If nations limit trade in of clothing who will benefit?
  1.    Domestic Consumers of clothing
  2.    Domestic producers of clothing
  3.    Foreign Producers of clothing 
  4.    department stores who sell clothing
 Discuss Question
Answer: Option B. -> Domestic producers of clothing
Question 64. To focus on producing one thing to improve productivity is known as:
  1.    Specialization
  2.    International trade
  3.    Absolute Advantage
  4.    Supply and Demand
 Discuss Question
Answer: Option A. -> Specialization
Question 65. Developed nations have all of the following except
  1.    better education
  2.    high levels of technology
  3.    better health
  4.    higher populations
 Discuss Question
Answer: Option D. -> higher populations
Question 66. If I am better at all types of production, I have the ______ in all forms of production
  1.    Comparative advantage
  2.    Specialization
  3.    Absolute advantage
  4.    developed nation
 Discuss Question
Answer: Option C. -> Absolute advantage

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