International trade theory says that you should export only those things in which you are specialized, which of the following best describes this concept?

• A) Export of rice from England
• B) Export of oranges from Iceland
• C) Export of fish from Iceland
• D) Export of Cars from England

Which of the following discussed about the resurgence of Islam in many traditionally Muslim societies as a result of modernization in non-Western societies?

• A) Francis Huntington
• B) Francis Fukuyama
• C) Samuel Fukuyama
• D) Samuel Huntington

Which one of the following combinations is said to be the engines of the economic growth?

• A) Innovation and Entrepreneurship
• B) Innovation and Exports
• C) Innovation and Business tactics
• D) Innovation and Ethics

The term ‘Normal Trade Relations’ changed in to the ‘Most Favored Nation’ under Clinton administration.

• A) False
• B) True
• C)
• D)

After undertaking FDI, a firm becomes:

• A) Multinational enterprises
• B) Global
• C) Multidimensional enterprises
• D) Multi domestic enterprises

What is the expressed form of VER?

• A) Voluntary Enforced Restraint
• B) Voluntary Export Restraint
• C) Voluntary Export Restoration
• D) Vulnerable Export Restraint

Which of the following type of FDI is the establishment of a wholly new operation in a foreign country?

• A) Universal Investment
• B) Green-field investment
• C) Furnished Investment
• D) Licensing

Due to Smoot-Hawley tariff, what is the effect on tax rate in America at that time?

• A) Decreases
• B) No effect
• C) Constant
• D) Increases

Michael Porter who presented a theory about the competitive advantages of nation, belongs to which of the following educational institute?

• A) Oxford University
• B) London business school
• C) London school of economics
• D) Harvard Business School

In which year Morocco round held and formally signed?

• A) 1975
• B) 1989
• C) 1994
• D) 1985

Great Britain, as a major trading nation was one of the strongest supporters of free trade.

• A) True
• B) False
• C)
• D)

MFN stands for;

• A) Most Famous Nationalist
• B) Most Favorite Nation
• C) Most Fragrant Notion
• D) Most Fragmented Nation

In 1996 the U.S. Congress passed a resolution against Libya and Iran, what was the name of that act?

• A) D’Amato Act
• B) De Cardio Act
• C) Helms-Burton Act
• D) De Faro Act

In 1996 the U.S. Congress passed a resolution against Cuba, what was the name of that act?

• A) D’Amato Act
• B) De Cardio Act
• C) Helms-Burton Act
• D) De Faro Act

In a VER, another country or countries agree to not export more than a certain quantity to another country or countries.

• A) False
• B) True
• C)
• D)

When a firm invests directly in facilities to produce and/or market a product in a foreign country is known as:

• A) Foreign direct investment
• B) Partnership
• C) Land requisition
• D) Mutual Fund

CAP stands for;

• A) Common Automation Policy
• B) Causal Automation Policy
• C) Calculated Authentic Policy
• D) Common Agricultural Policy

Which of the following is a direct restriction on the quantity of some good that may be imported into a country?

• A) Antidumping duty
• B) Quota
• C) Tariff
• D) Subsidy

Which of the following is true meaning of the term trade surpluses?

• A) When imports exceed exports
• B) When import and exports becomes equal
• C) When exports exceed imports
• D) Trading can not be quantify

There are two modes of foreign direct investment. One of them is acquisition or merger in a foreign country, identify the other one.

• A) Furnished Investment
• B) Green-field investment
• C) Universal Investment
• D) Lycos Investment