Should UN Trade with Other Countries? MCQs (Multiple Choice Questions) PDF Download - 90

Smaller the opportunity cost of every good produced in the country is better to gain

1. gains from trade
2. comparative advantage
3. debt
4. comparative disadvantage

The theorem that relates with the features like allow free trade in outputs, specialize in labor-intensive production, and export labor indirectly in the form of labor-intensive goods is known as

1. stolper-samuelson theorem
2. laissez faire theorem
3. rybczynski theorem
4. factor-price equalization theorem

An agreement among countries in a geographic region to reduce and ultimately remove, tariff and non tariff barriers to the free flow of goods or services and factors of production among each others is known as

1. economic integration
2. world trade organization agreement
3. preferential trade arrangements
4. custom union

Goods/services that are produces within nation and are sold out internationally are

1. exports
2. imports
3. balance of payment
4. raw materials

The increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital is known as

1. technological advancement
2. globalization
3. economy growth
4. upgradation