This quiz works best with JavaScript enabled. Home > Economics > International > Trade > Trade Exchange And Interdependence – Quiz 11 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Trade Exchange And Interdependence Quiz 11 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Why does Eastern Europe produce far more sugar beets than they can consume? A) So they can't affect the prices of sugar beets. B) To increase self-sufficiency. C) To trade them with the U.S. and other countries. D) To decrease interdependence. Show Answer Correct Answer: C) To trade them with the U.S. and other countries. 2. Currency appreciation results in A) Increased exports, decreased imports. B) Decreased exports, increased imports. C) Decreased exports, decreased imports. D) Increased exports, increased imports. Show Answer Correct Answer: B) Decreased exports, increased imports. 3. Which of these is an example of a trade restriction? A) Imports. B) Services. C) Economies. D) Tariffs. Show Answer Correct Answer: D) Tariffs. 4. To continually change A) Currency. B) Fluctuate. C) Exchange rate. D) Euro. Show Answer Correct Answer: B) Fluctuate. 5. An agreement to eliminate trade barriers between Canada, Mexico, and USA. A) MFN. B) USDA. C) NAFTA. D) WTO. Show Answer Correct Answer: C) NAFTA. 6. Which of the following changes would help a business that aims to export most of the goods it produces? A) A rise in the exchange rate. B) A fall in the exchange rate. C) No change in the exchange rate. D) None of above. Show Answer Correct Answer: B) A fall in the exchange rate. 7. Every year Mr. Douglas sells 1000 tons of sugar to a company in England. Which word best describes Mr. Douglas? A) Exporter. B) Retailer. C) Wholesaler. D) Importer. Show Answer Correct Answer: A) Exporter. 8. What was a favorable balance of trade? A) When people bought more goods than they sold. B) When trading found its inner piece. C) When people sold more goods than what they bought. D) When merchants traded scales. Show Answer Correct Answer: C) When people sold more goods than what they bought. 9. As native populations decreased in the Americas from sickness and overwork, Europeans looked for new sources of labor by enslaving the ..... A) Portuguese. B) Africans. C) Americans. D) Spanish. Show Answer Correct Answer: B) Africans. 10. When we exchange goods without the use of money, it is known as: A) Trading. B) Buying. C) Bartering. D) Selling. Show Answer Correct Answer: C) Bartering. 11. There was a high ....., or death rate. A) New World. B) Mortality. C) Plantations. D) Mines. Show Answer Correct Answer: B) Mortality. 12. What natural resource is Israel known for exporting? A) Iron Ore. B) Lumber. C) Diamonds. D) Oil. Show Answer Correct Answer: C) Diamonds. 13. Which of the following is India's notable exporting category? A) Gems and Jewellery. B) Agricultural products. C) Readymade garments. D) Coffee. Show Answer Correct Answer: A) Gems and Jewellery. 14. A good brought in from another country is called ..... A) Tariff. B) Embargo. C) Export. D) Import. Show Answer Correct Answer: D) Import. 15. In the short-run, tariffs and quotas help protect A) Consumer choice. B) Foreign employment. C) Price wars. D) Domestic jobs. Show Answer Correct Answer: D) Domestic jobs. 16. Not trading with nations who create products using child labor is used in the argument for A) National Defense. B) Domestic Jobs. C) Environment. D) Human Rights. Show Answer Correct Answer: D) Human Rights. 17. In economic terms, what is a trade barrier? A) A location where international trade takes place. B) Anything that restricts the amount of trade. C) A natural, geographic block to trade. D) Something that encourages free trade. Show Answer Correct Answer: B) Anything that restricts the amount of trade. 18. When it comes to disadvantages of international trade, which is not MENTIONED as a drawback of international trade? A) Risk of proprietary information theft. B) Political risk. C) World war. D) Comparative cost. Show Answer Correct Answer: D) Comparative cost. 19. Indus Valley, ....., and Egypt civilizations bought and sold with one another. A) Mesopotamia. B) Dubai. C) China. D) India. Show Answer Correct Answer: A) Mesopotamia. 20. A free-trade zone means: A) Trade does not happen. B) You don't have to pay money to get items. C) Trade happens less often. D) There are no tariffs between the countries in this zone. Show Answer Correct Answer: D) There are no tariffs between the countries in this zone. 21. What group of people suffered the most during the Columbian Exchange? A) Europeans. B) Explorers. C) Native Americans. D) Animals. Show Answer Correct Answer: C) Native Americans. 22. Many countries trade with Cuba because they have an abundance of sugar cane which allows them to export large amounts of sugar. What kind of service is this based on? A) Trade Barrier. B) Specialization. C) Economics. D) Maximum Spending. Show Answer Correct Answer: B) Specialization. 23. Fixed and floating are both types of what? A) Opportunity Costs. B) Trade Deficits. C) Exchange Rates. D) Trade Barriers. Show Answer Correct Answer: C) Exchange Rates. 24. In which year did the North American Free Trade Agreement come into effect? A) 2002. B) 1992. C) 1989. D) 1994. Show Answer Correct Answer: D) 1994. 25. Can cause negative relationships between countries as it is usually enacted for political purposes to hurt a country economically. A) Quota Cost. B) Tariff Cost. C) Embargo Cost. D) None of above. Show Answer Correct Answer: C) Embargo Cost. 26. In which country would it be most difficult for a person to start a business? A) About the same for each. B) Germany. C) United Kingdom. D) Russia. Show Answer Correct Answer: D) Russia. 27. The rise in percentage shares of secondary and tertiary sectors in GDP and the corresponding fall in the percentage share of the primary Sector is called: A) Economic adjustment. B) Industrialisation. C) Structural transformation. D) Economic calibration. Show Answer Correct Answer: C) Structural transformation. 28. Corporations such as Ford Motor Company, Shell Oil Company, and British Petroleum, which produce and sell products in different countries, are called A) Industries. B) Multinational. C) Globals. D) Mega companies. Show Answer Correct Answer: B) Multinational. 29. What has the country done as an anti-dumping measure? A) Putting tariffs. B) Trade barriers. C) Both A&B are correct. D) Both A&B are incorrect. Show Answer Correct Answer: C) Both A&B are correct. 30. The producer does all the following, except: A) Provides services. B) Gets money. C) Make goods. D) Uses services. Show Answer Correct Answer: D) Uses services. ← PreviousNext →Related QuizzesInternational QuizzesEconomics QuizzesTrade Exchange And Interdependence Quiz 1Trade Exchange And Interdependence Quiz 2Trade Exchange And Interdependence Quiz 3Trade Exchange And Interdependence Quiz 4Trade Exchange And Interdependence Quiz 5Trade Exchange And Interdependence Quiz 6Trade Exchange And Interdependence Quiz 7Trade Exchange And Interdependence Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books