Here are some MCQs on Foreign Trade, Policy, Balance of Trade, Balance of Payments, and the World Trade Organization (WTO)
1. Which of the following is not a primary objective of foreign trade?
a) Promoting economic growth
b) Increasing employment opportunities
c) Enhancing national security
d) Encouraging cultural exchange
2. Which of the following is an example of a trade barrier?
a) Tariffs
b) Free trade agreements
c) Quotas
d) World Trade Organization (WTO)
3. The balance of trade is the difference between a country’s:
a) Imports and exports of goods
b) Imports and exports of services
c) Total exports and total imports
d) Trade deficit and trade surplus
4. A trade surplus occurs when:
a) Exports exceed imports
b) Imports exceed exports
c) The trade deficit is zero
d) The balance of trade is negative
5. The balance of payments is a record of all:
a) Financial transactions between a country and other nations
b) Imports and exports of goods and services
c) Tariffs and quotas imposed by a country
d) Exchange rates between currencies
