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Trade Exchange And Interdependence Quiz 8 (25 MCQs)

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1. Why did the Chinese decide to interact with their European neighbors?
2. Which was traded from the Old World to the New World?
3. Which of the following is one of the negative effects of global trade?
4. Focusing on a narrow range of products/services that can be produced most efficiently and cost-effectively
5. The Silk Road crossed _____
6. The exchange of goods and services without the use of money _____
7. The _____ was the most important animal that Europeans brought to the New World.
8. 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 _____
9. Which is NOT a reason why people trade? To _____
10. Choose the answer that best completes this sentence. People trade _____ trading allows them to get what they need.
11. There are _____ methods of payment in international trade.
12. What were the two most important items that traveled from the Americas to other countries?
13. In which countries do buyers and sellers usually come to agreement on prices in order to trade?
14. A tariff is a tax on trade, if a country has a tariff, what happens to the demand and supply?.
15. Which of the following items was not exported prior to independence?
16. Why is trade important?
17. The nominal exchange rate at which a given basket of goods and services would cost the same in each country describes
18. Which of the following instrument of trade protection directly raises the price of the commodity in the domestic economy?
19. This is an efficient way to work, and the cost of items produced is lower.
20. If a nation chooses to specialize and trade, which of the following situations could be expected to occur?
21. Government policies that restrict or stop the flow of goods and services among countries.
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. Types of goods and services we export and import is called:
25. The Dabbawala service is a _____ year old service.
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