Câu 1: What are the distinctive features of international trade, compared to domestic trade?

• The goods and services exchange activities occur among different countries.
• The payment involves different currencies, and thus exchange rate is important.
• International trade is riskier and more complex.
• All are correct.

Câu 2: Trade surplus occurs when

• a country's exports exceed its imports
• a country's imports exceed its exports.
• a country's exports equal its imports.
• a country experiences a negative balance of trade.

Câu 3: Gravity model postulates that, other things equal, the … and the … the two the nations are, the … the volume of trade between them is expected to be

• smaller, further, larger
• larger, closer, larger
• larger, further, smaller
• smaller, closer, smaller

Câu 4: Prof. Andreas Stoffers flew from Germany to Vietnam to teach the course "International Business" in University of Economics and Business, Vietnam National University - Hanoi for one semester. This is an example of

• Cross-border supply.
• Consumption abroad.
• Commercial presence.
• Natural persons presence.

Câu 5: Assume that the world has two nations (Vietnam and Laos) producing 6 commodities with the following data:

• Coffee
• Banana, Corn
• Coffee, Apple, Orange
• Coffee, Banana, Mango, Apple, Orange

Câu 6: Which of the following will be the lowest barrier on imports of $800 computer?

• A specific $30 tariff
• An ad-valorem 5% tariff
• A compound duty of S2 and 5%
• A compound duty of S5 and 3%

Câu 7: Which of the followings is NOT the arguments that support free trade?

• Market failure argument
• Efficiency argument
• Rent seeking argument
• Dynamic benefits argument

Câu 8: An important difference between tariffs and quotas is that tariffs

• raise the price of the good.
• generate tax revenue for the government,
• stimulate international trade.
• help domestic producers.

Câu 9: The difficulties for the General Agreement on Trade and Tariffs (GATT) in the late 1970s and early 1980s was

• GATT Scope of trade barriers was wider than the scope of trade barriers in practice.
• GATT regulated both trade in goods and services while trade in services was not developed in this period.
• GATT regulated agricultural trade that was sensitive and caused many disputes, thus GATT was inefficient in governing global trade.
• GATT dispute settlement was not adequate,

Câu 10: Which of the followings is NOT a condition for imposing countervailing duties?

• There is a subsidy action.
• Subsidy margin must be de minimis.
• Domestic industry suffers from material injury.
• There is a causal relationship between subsidy action and the material injury to the domestic industry.

Câu 11: Assume that only two countries, Indonesia and Vietnam, are in the economy. Labor: Indo:100 - VN: 60. Capital: Indo: 40 - VN: 30. if rice is a labor - intensive product:

• Vietnam will export rice.
• Indonesia will export rice.
• both countries will export rice.
• trade will not occur between these two countries.

Câu 12: The disappointment with import-substitution policies is in part because

• many countries pursuing this strategy experienced stagnation in their growth.
• the rapid and continuous growth record of South American countries.
• this policy is inconsistent with sophisticated economic growth models.
• this policy tended to create world-class industrial competitors.

Câu 13: The infant industry argument is the principal justification for

• import-substitution policies.
• export-oriented policies.
• strategic trade policies.
• industrial policies.

Câu 14: If firms in an industry are generating knowledge that other firms can use without paying for it, this industry should be

• protected.
• subsidized.
• imposed import quota.
• imposed local content requirement.

Câu 15: The WTO's principle of Most Favored Nation (MFN) means

• to treat a member country more preferentially than others.
• equal treatment between goods produced domestically and abroad.
• equal treatment between all WTO members.
• no discrimination between developed and developing member countries.

Câu 16: Suppose that there are two factors, capital and land, and that Russia is relatively land endowed while the UK is relatively capital-endowed. According to the Heckscher-Ohlin model,

• All capitalists in both countries should support free trade.
• All landowners in both countries should support free trade.
• British landowners should support Russia-UK free trade,
• British capitalists should support Russia-UK free trade,

Câu 17: If … occurs when cost per unit of output depends on the size of the industry.

• The rise in terms of trade
• Internal economies of scales
• Imperfect competition
• External economies of scales

Câu 18: When justifying whether a government should subsidize high technology industries, the following should NOT be taken into consideration:

• The industry is infant
• The ability of governments to subsidize the right activity.
• The economic importance of externalities.
• Externalities may occur across countries.

Câu 19: Regarding the product "pet botttle", what is SPS among the followings?

• The shape of the bottle.
• The labelling requirements
• The use of non-toxic material
• The packaging requirements.

Câu 20: The growth success of the high-performance Asian economies

• supports the belief that economic development requires import substitution policies.
• rejects the belief that export-oriented industrialization is likely to promote economic development.
• rejects the belief that economic development requires import substitution policies.
• suggests that free trade policies are required for successful economic development

Câu 21: Comparative Advantage Theory supports the idea that

• a country will specialise in producing a good that has a lower opportunity cost
• a country will specialise in producing a good that has a higher productivity
• a country will specialise in producing a good that has a lower production cost
• a country should import the product with comparative advantage

Câu 22: The entertainment industry in the US is concentrated in Hollywood. This is an example of

• internal economies of scale.
• external economies of scale. .
• constant returns to scale
• None of the above,

Câu 23: The World Trade Organization (WTO) was organized as a successor to the

• IMF.
• UN.
• UNCTAD.
• GATT

Câu 24: Free trade will help enhance efficiency of the economy because if trade distortions such as tariffs are dismantled and removed,

• government tariff revenue will decrease, and therefore national economic welfare will decrease.
• rent-seeking activities will reduce, and therefore resources will be used more efficiently.
• deadweight losses for producers will decrease and deadweight losses for consumers will increase, hence increasing national economic welfare.
• deadweight losses for producers and consumers will decrease, hence decreasing national economic welfare.

Câu 25: Which of the followings is NOT true related to AEC 2015?

• Pillar I of the ASEAN Economic Community (AEC) is A single production base and market. Pillar I refers to the free movement of goods, free movement of services, free movement of capital and investment, and free movement of unskilled workers,
• Pillar 2 of the ASEAN Economic Community (AEC) is A competitive sector. Pillar 2 includes competition policy, consumer protection and e-commerce development.
• Pillar 3 of the ASEAN Economic Community (AEC) is An equitable economic development. Pillar 3 includes the development of small and medium enterprises and ASEAN Integration Initiatives.
• Pillar 4 of the ASEAN Economic Community (AEC) is Integration into the global economy. Pillar 4 refers to economic cooperation with extra-region partners and increase ASEAN's participation in the global supply chain.