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Barriers To Trade Quiz 4 (30 MCQs)

Quiz Instructions

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1. The currency used by most European Union member nations is called the .....
2. Having to choose one item over another because of limited resources is a an example of
3. Germany places a block on all imports from Sri Lanka
4. Free Trade Agreement among the nations of EuropeAdopted common currency:Euro
5. Brazil decides to place a tax on imports from Venezuela. This is an example of the following trade barrier:
6. What does international trade between countries with different currencies require?
7. How did the North American Free Trade Agreement increase economic cooperation between Canada, Mexico, and the United States?
8. Cuba is not allowed to sell anything to the US.
9. Refusing to buy from a country without an official embargo is the definition to what term below?
10. When people or nations produce a smaller amount of goods and services than they consume
11. Why was the European Union was created?
12. When a country refuses to trade with others it is participating in a trade .....
13. The total dollar amount of all final goods and services produced in a country in a year divided by the country's population.
14. Russia's economy is .....
15. The United Nations has decided to limit the amount of equipment that can be sold to Iran for making nuclear fuel. This is an example of what trade barrier?
16. Goods and services a country produces and sells to other countries
17. A limit on a specific imported (foreign) good
18. U.S. State Department officials confirm that the current administration has decided to continue the prohibition of all U.S. trade with Cuba.
19. Japanese auto firms agree to limits set in Washington, D.C. on the number of Japanese automobiles that may be sold in the United States.
20. Which event would MOST LIKELY cause a decrease in the market price for cherries?
21. In June of 2013, the European Union described to lift restrictions of the trade of weapons to Syrian rebels. This is a(n) .....
22. A person who takes a change by opening a business
23. Argentina increased taxes to 9% on the import of milk powder after record levels of imports and fears Argentina farmers would suffer falling incomes. This is an example of which trade barrier?
24. These two countries created the European Union to keep European countries from creating war against one another
25. What is the purpose of NAFTA?
26. The amount of a resource, good, or service sellers are willing to sell at possible prices is .....
27. Rules used to try to slow or limit trade with other countries
28. The resources used to produce a good and service are .....
29. Which effect is the MOST LIKELY result of a free trade agreement between countries?
30. Spain restricts all imports of automobiles from Germany
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