INTERNATIONAL ECONOMICS EXAMINATION QUESTIONS AND CORRECT ANSWER WITH EXPLANATION GRADED A+ STUDY GUIDE SOUTHERN NEW HAMPSHIRE UNIVERSITY

INTERNATIONAL ECONOMICS EXAMINATION
QUESTIONS AND CORRECT ANSWER WITH
EXPLANATION GRADED A+ STUDY GUIDE SOUTHERN
NEW HAMPSHIRE UNIVERSITY


1. International economics studies:

A. Local markets only
B. Economic interactions between countries
C. HR systems
D. Cooking systems
Answer: B
It focuses on trade and financial relations between nations.



2. International trade refers to:

A. Local exchange
B. Exchange of goods between countries
C. HR exchange
D. Cooking exchange
Answer: B
It involves cross-border trade.



3. Exports are:

A. Goods bought locally
B. Goods sold to other countries
C. HR goods
D. Cooking goods
Answer: B
They are sent abroad.

,4. Imports are:

A. Goods sold abroad
B. Goods bought from other countries
C. HR imports
D. Cooking imports
Answer: B
They come from foreign countries.



5. Balance of trade is:

A. HR balance
B. Difference between exports and imports
C. Cooking balance
D. Marketing balance
Answer: B
It measures trade position.



6. Trade surplus occurs when:

A. Imports > exports
B. Exports > imports
C. No trade
D. Balanced trade
Answer: B
More exports than imports.



7. Trade deficit occurs when:

A. Exports > imports
B. Imports > exports
C. No imports
D. No exports
Answer: B
More imports than exports.

, 8. Balance of payments records:

A. HR transactions
B. All international transactions
C. Cooking data
D. Marketing data
Answer: B
It records all cross-border flows.



9. Current account includes:

A. Loans only
B. Goods, services, income, transfers
C. HR data
D. Cooking data
Answer: B
It covers trade flows.



10. Capital account includes:

A. Goods trade
B. Financial assets and investments
C. HR capital
D. Cooking capital
Answer: B
It tracks investment flows.



11. Foreign exchange market deals with:

A. HR exchange
B. Currency exchange
C. Cooking exchange
D. Marketing exchange
Answer: B
It handles currency trading.