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Trade Exchange And Interdependence Quiz 3 (25 MCQs)

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1. The ability to produce a good or service more efficiently than another country can produce the same good or service
2. What were some of the things that Europeans brought over to the Americas?
3. Because countries have different _____, international trade requires a system for exchanging currencies between nations
4. What did the captains do to show proof of purchase?
5. What is the currency of Russia?
6. An increase in U.S. imports will result in which of the following in foreign exchange markets?
7. Example:In 2010, China announced that it would impose an import tax on American poultry of up 105.4 percent.
8. Devaluation of a currency will lead to which of the following?
9. A condition by which different things rely on each other for support
10. What is a special benefit experienced by CARICOM countries when they trade with each other? They _____
11. Many Middle East countries export oil, but import or buy items such as _____
12. Land, human capital, capital goods, and entrepreneurship together make up:
13. Which of these is an example of involuntary trade?
14. A custom established by an authority or government
15. Ricardian Model is based on differences in
16. This term is used when nations produced different goods and services based on the resources that they have.
17. Which of these is an example of service?
18. Inflation often causes tha currency of the country with the highest rate to _____
19. When did the Columbian Exchange take place?
20. What is the name we give to any exchange of one thing for something else?
21. Squash, pineapples, potatoes, and turkey were foods that were introduced to _____
22. A trade barrier that stops trade between countries.
23. The Bactrian camel made travel through the routes of the Silk Roads possible because it was adapted to the land by its
24. What should a Mexican do if the PPP says the exchange rate should be 10 pesos per dollar and the actual exchange rate is 14 pesos per dollar?
25. Countries can establish limits on trade, which can:* limit the influence of the foreign sector. * punish other countries by withholding trade. * limit the amount of foreign goods that can be _____ .
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