DBIA EXAM NEWEST 2025 ACTUAL EXAM COMPLETE 200+
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS)
the doctrine of mercantilism dominated at what century? VERIFIED
ANSWER 16th century through the end of 18th century
is an economic policy that is designed to maximize the exports and
minimize the imports for an economy. It promotes imperialism,
colonialism, tariffs and subsidies on traded goods to achieve that goal.
VERIFIED ANSWER Merchantilism
Foreign ships were prohibited from taking part in coastal trade in
England, and all imports from continental Europe were required to be
carried by either British ships or ships that were registered in the country
where the goods were produced. VERIFIED ANSWER British
Navigation Act of 1651
who wrote about both of whom stressed the desirability of imports and
stated that exports were just the necessary cost of acquiring them.
VERIFIED ANSWER Adam Smith and David Ricardo
greatly aided the British carry trade and made permissible the reciprocal
removal of import duties under bilateral trade agreements with other
nations. VERIFIED ANSWER 1823 Reciprocity of Duties
,were tariffs and other trade restrictions on imported food and corn
enforced in the United Kingdom between 1815 and 1846. VERIFIED
ANSWER Corn Laws
Corn Laws was repealed at what year? VERIFIED ANSWER 1846
The 1860 treaty ended tariffs on the main items of trade—wine, brandy
and silk goods from France, and coal, iron and industrial goods from
Britain. VERIFIED ANSWER The Cobden-Chevalier Treaty of 1860
a non-discriminatory policy that requires countries to treat all other
countries the same when it comes to trade. VERIFIED ANSWER MFN-
most favored nation
what does MFN stands for? VERIFIED ANSWER Most favored nation
what year severe depression occur? VERIFIED ANSWER 1873-1877
In 1879, Germany would revert to more protectionist policies with its
VERIFIED ANSWER "iron and rye" tariff
The tariff raised the average duty on imports to almost fifty percent, an
increase designed to protect domestic industries and workers from
foreign competition. VERIFIED ANSWER The McKinley Tariff Act of
1890
,IMF? VERIFIED ANSWER international monetary fund
ITO? VERIFIED ANSWER international Trade Organization
arose out of the 1944 Bretton Woods Agreement. VERIFIED ANSWER
IMF, ITO
GATT? VERIFIED ANSWER General agreement on tariffs and trade
is a treaty minimizing barriers to international trade by eliminating or
reducing quotas, tariffs, and subsidies. It was intended to boost
economic recovery after World War II. VERIFIED ANSWER GATT
1947
how many countries signed GATT? VERIFIED ANSWER 23
European Union.. The Treaty would create a common market for coal
and steel among its member states with freely set market prices, free
movement of products, and without customs duties or taxes, subsidies,
or restrictive practices. VERIFIED ANSWER European Coal & Steel
Community (1951)
succeeded the GATT as the global supervisor of world trade
liberalization, following the Uruguay Round of trade negotiations.
VERIFIED ANSWER WORLD TRADE ORGANIZATION 1955
, refers to the exchange of goods and services between countries.
In simple words, it means the export and import of goods and services.
VERIFIED ANSWER International Trade
means selling goods and services out of the country, VERIFIED
ANSWER Export
means goods and services flowing into the country. VERIFIED
ANSWER import
prices or demand and supply are affected by VERIFIED ANSWER
global events
There are three types of international trade: VERIFIED ANSWER
Export Trade,
Import Trade,
Entrepot Trade.
is a combination of export and import trade and is also known as Re-
export. VERIFIED ANSWER entrepot trade
It means importing goods from one country and exporting them to
another country after adding some value. VERIFIED ANSWER entrepot
trade
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS)
the doctrine of mercantilism dominated at what century? VERIFIED
ANSWER 16th century through the end of 18th century
is an economic policy that is designed to maximize the exports and
minimize the imports for an economy. It promotes imperialism,
colonialism, tariffs and subsidies on traded goods to achieve that goal.
VERIFIED ANSWER Merchantilism
Foreign ships were prohibited from taking part in coastal trade in
England, and all imports from continental Europe were required to be
carried by either British ships or ships that were registered in the country
where the goods were produced. VERIFIED ANSWER British
Navigation Act of 1651
who wrote about both of whom stressed the desirability of imports and
stated that exports were just the necessary cost of acquiring them.
VERIFIED ANSWER Adam Smith and David Ricardo
greatly aided the British carry trade and made permissible the reciprocal
removal of import duties under bilateral trade agreements with other
nations. VERIFIED ANSWER 1823 Reciprocity of Duties
,were tariffs and other trade restrictions on imported food and corn
enforced in the United Kingdom between 1815 and 1846. VERIFIED
ANSWER Corn Laws
Corn Laws was repealed at what year? VERIFIED ANSWER 1846
The 1860 treaty ended tariffs on the main items of trade—wine, brandy
and silk goods from France, and coal, iron and industrial goods from
Britain. VERIFIED ANSWER The Cobden-Chevalier Treaty of 1860
a non-discriminatory policy that requires countries to treat all other
countries the same when it comes to trade. VERIFIED ANSWER MFN-
most favored nation
what does MFN stands for? VERIFIED ANSWER Most favored nation
what year severe depression occur? VERIFIED ANSWER 1873-1877
In 1879, Germany would revert to more protectionist policies with its
VERIFIED ANSWER "iron and rye" tariff
The tariff raised the average duty on imports to almost fifty percent, an
increase designed to protect domestic industries and workers from
foreign competition. VERIFIED ANSWER The McKinley Tariff Act of
1890
,IMF? VERIFIED ANSWER international monetary fund
ITO? VERIFIED ANSWER international Trade Organization
arose out of the 1944 Bretton Woods Agreement. VERIFIED ANSWER
IMF, ITO
GATT? VERIFIED ANSWER General agreement on tariffs and trade
is a treaty minimizing barriers to international trade by eliminating or
reducing quotas, tariffs, and subsidies. It was intended to boost
economic recovery after World War II. VERIFIED ANSWER GATT
1947
how many countries signed GATT? VERIFIED ANSWER 23
European Union.. The Treaty would create a common market for coal
and steel among its member states with freely set market prices, free
movement of products, and without customs duties or taxes, subsidies,
or restrictive practices. VERIFIED ANSWER European Coal & Steel
Community (1951)
succeeded the GATT as the global supervisor of world trade
liberalization, following the Uruguay Round of trade negotiations.
VERIFIED ANSWER WORLD TRADE ORGANIZATION 1955
, refers to the exchange of goods and services between countries.
In simple words, it means the export and import of goods and services.
VERIFIED ANSWER International Trade
means selling goods and services out of the country, VERIFIED
ANSWER Export
means goods and services flowing into the country. VERIFIED
ANSWER import
prices or demand and supply are affected by VERIFIED ANSWER
global events
There are three types of international trade: VERIFIED ANSWER
Export Trade,
Import Trade,
Entrepot Trade.
is a combination of export and import trade and is also known as Re-
export. VERIFIED ANSWER entrepot trade
It means importing goods from one country and exporting them to
another country after adding some value. VERIFIED ANSWER entrepot
trade
