Question 1
Invisible trade refers to:
A.
Capital transfers only B.
Goods only C.
Tax revenue D.
Services
Question 2
Net trade equals:
A.
GDP per capita B.
C + I + G C.
Imports minus exports D.
Exports minus imports
Question 3
What is meant by trade deficit?
A.
Overall current account net outflow. B.
Imports of goods/services exceed exports. C.
Record of financial transactions with the rest of the world; must balance overall. D.
Capital transfers and non-produced assets.
Question 4
The BoP accounts must:
A.
Show only exports B.
Equal GDP C.
Ignore financial flows D.
Balance overall
Question 5
What is meant by financial account?
A.
FDI, portfolio flows, other investment, reserves. B.
Exports minus imports (X − M). C.
Trade in services. D.
Capital transfers and non-produced assets.
Question 6
What is meant by visible trade?
A.
Record of financial transactions with the rest of the world; must balance overall. B.
Exports minus imports (X − M). C.
FDI, portfolio flows, other investment, reserves. D.
Trade in goods.
Question 7
A current account deficit means:
A.
Exports exceed all imports always B.
Government budget is balanced C.
Inflation is 0% D.
More outflows than inflows on the current account
Question 8
What is meant by net trade?
A.
FDI, portfolio flows, other investment, reserves. B.
Exports minus imports (X − M). C.
Record of financial transactions with the rest of the world; must balance overall. D.
Trade in goods/services, primary income, secondary income.
Question 9
What is meant by current account?
A.
Trade in goods/services, primary income, secondary income. B.
Capital transfers and non-produced assets. C.
Exports minus imports (X − M). D.
Trade in goods.
Question 10
What is meant by competitiveness?
A.
Trade in goods. B.
Ability to sell goods abroad at competitive prices. C.
Exports minus imports (X − M). D.
Record of financial transactions with the rest of the world; must balance overall.
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