Globalization Challenge Quiz with Answers PDF Download – Test 1

MCQ 1: The act of restraining trade between states through methods such as tariffs on imported goods is known as:

1. globalization
2. foreign direct investment
3. embargo
4. protectionism

MCQ 2: Among many, one of the exclusive assumption for production possibility curve is:

1. resources are fully utilized
2. level of technology has to be flexible
3. large resources can help goods to be produced in bulk
4. MPRS Is the ratio by which two goods are being measured

MCQ 3: A good that is both private and public, including partial excludability, partial rivalry, partial diminishability and partial reject ability is known as:

1. public good
2. rivalry good
3. revealed preference
4. quasi good

MCQ 4: The situation when workers leave their jobs to find better ones is known to be as:

1. frictional unemployment
2. derived demand
3. full unemployment
4. under employment

MCQ 5: Job availability, wages, the prices or availability of goods and services, and the amount of capital investment funding available to minorities for business are the best example of:

1. price discrimination
2. economic discrimination
3. society discrimination
4. job discrimination