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Trade Exchange And Interdependence Quiz 10 (30 MCQs)

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1. Some companies sell their product in overseas markets at a much lower price than their actual cost of producing. What is that product called?
2. President Trump enacted tariff barriers against China and a lot of people worried that China might retaliate and enact the same tariff barriers. This event is a .....
3. Which of the following is part of the arguments about trade against?
4. Infant industries can be helped in the world market by giving those industries a
5. Which is NOT a reason why people trade? To .....
6. Choose the answer that best completes this sentence. People trade ..... trading allows them to get what they need.
7. There are ..... methods of payment in international trade.
8. What were the two most important items that traveled from the Americas to other countries?
9. The opposite of a ..... exchange rate is a ..... exchange rate.
10. In which countries do buyers and sellers usually come to agreement on prices in order to trade?
11. When the US$ exchange rate falls it will usually
12. An agreement among the United States, Canada and Mexico designed to remove tariff barriers between the three countries.
13. A tariff is a tax on trade, if a country has a tariff, what happens to the demand and supply?.
14. Which of the following items was not exported prior to independence?
15. Why is trade important?
16. The nominal exchange rate at which a given basket of goods and services would cost the same in each country describes
17. Which of the following instrument of trade protection directly raises the price of the commodity in the domestic economy?
18. This is an efficient way to work, and the cost of items produced is lower.
19. If a nation chooses to specialize and trade, which of the following situations could be expected to occur?
20. Government policies that restrict or stop the flow of goods and services among countries.
21. Another term for a fall in the exchange rate is .....
22. Which trade complex included both land and sea routes?
23. In 2006, the United Nations passed a Resolution that prohibits states from directly or indirectly supplying North Korea with conventional weapons (battle tanks, artillery, aircraft, missiles, etc.)
24. The stage of economic development that involves questioning traditions and facing new patterns of living is
25. Nike only releases certain types of Jordans on Christmas and Thanksgiving Day each year. Due to high consumer demand, there is only a limited amount.What is this an example of?
26. Types of goods and services we export and import is called:
27. The Dabbawala service is a ..... year old service.
28. What caused Europe to acquire new business and trade practices?
29. What happens to the price of exports when the exchange rate falls?
30. This is a tax on imports that is used to increase price of foreign products and raise government revenue.
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