It is a theory stating that countries with similar incomes require similarly valued products and that this leads them to trade with each other*

a. Heckscher-Ohlin Model

b. Linder hypothesis

c. Samuelson model

d. Macroeconomic Model

Which of the following exemplifies the Heckscher-Ohlin Model?*

a. Philippines produces more coffee than rice since a lot of its citizens love coffee.

b. Philippines produces more coffee as its main commodity for export and import other goods.

c. Philippines produces more coffee to distribute within the nation and imports less of other commodities

d. Philippines produces more coffee and export a certain percentage and import other commodities after decreasing some of its productions.

The following are advantages of import and export, except:*

a. It gives better control over the trade than setting up a market and the risk is considerably low.

b. Can help Countries to access the best technologies available and best products and services in the world.

c. It is one of the simplest routes of entering into the global trade and import and export generate huge employment opportunities.

d. It can help countries to become stagnant in terms of technological advancement.

An ad-valorem tariff is levied as a fixed fee based on the type of item, such as a $1,000 tariff on a car. A specific tariff is levied based on the item's value, such as 10% of the value of the vehicle.*

a. First statement is correct; second statement is incorrect.

b. First statement is incorrect; second statement is correct.

c. Both statements are correct.

d. Both statements are incorrect.

What goal of ASEAN Integration is being implemented when it seeks to strengthen the implementation of technical assistance and capability building programmes for public and private sectors needing assistance in some ASEAN countries through the Initiative for ASEAN Integration (IAI)?*

a. Single market and production base

b. Competitive economic region

c. Equitable economic development

d. Fully integrated region in the global economy

It is a type of tariff levied based on the item's value*

a. Specific Tariff

b. Ad-valorem Tariff

c. Licenses

d. Import quotas

Ana is looking for a cellphone case on Lazada. After searching for the same item several times, she noticed that there are recommendations for her the same product that she keeps on looking for. What major trends on business is being shown?*

a. Edge-computing for video

b. Autonomous Vehicles

c. Artificial Intelligence (AI)

d. 5G

The following are external challenges of the member countries of ASEAN, except:*

a. Unresolved territorial disputes

b. Globalization

c. Regional imbalances

d. lack of engagement mechanisms

The EU began as the European Community (EC) under the treaty of Rome. Then, it changed to the European Coal and Steel Community, in 1957.*

a. First statement is correct; second statement is incorrect.

b. First statement is incorrect; second statement is correct.

c. Both statements are correct.

d. Both statements are incorrect.

What trade barrier is being used when a country is tightening its tariff to a certain country who did not play fair in international trade?*

a. Protection of Domestic Employment

b. Protection of Consumers

c. Securing Infant Industries

d. Retaliation