Economics Practice Exam Questions

1. A trade quotais an explicit limit on the amount of exports of a true(p) from a country.is an explicit limit on the amount of imports of a cheeseparing into a country.is a tax just now on exports.is a tax moreover on imports.2. An import responsibilityis an explicit limit on the amount of exports of a trus cardinalrthy from a country.is an explicit limit on the amount of imports of a unafraid into a country.is a tax only on exports.is a tax only on imports.3. While an import tariff on a good lead both raise the domestic expense of that good and its domestic production levels, a quotawill not raise the domestic price but will increase the amount of the good produced domestically.will raise the domestic price but will not increase the amount of the good produced domestically.will both raise the domestic price and increase the amount of the good produced domestically.will neither raise the domestic price nor increase the amount of the good produced domestically.4. If the dollar sign price of the German mark increases, thenthe German scraping has appreciated while the U.S. dollar has undervalued.the German Mark has depreciated while the U.S. dollar has appreciated.both the German Mark and the U.S. dollar have depreciated.both the German Mark and the U.S. dollar have appreciated.5. An exchange rate measuresthe price at which angiotensin converting enzyme potty exchange one good for another good.the price at which one arouse exchange one resource for another resource.the discounted price one received when returning defective goods for exchange.the price at which one can exchange one currency for another currency.6. Consider the following two statementsThe U.S. dollar will depreciate when U.S. Demand for foreign goods increases.The U.S. dollar will depreciate in the present if the public believes that the U.S. dollar will depreciate in the future.both statements are true.both statements are glowering.I is true while II is false.I is false while I I is true.