This quiz works best with JavaScript enabled. Home > Economics > International > Trade > Trade Exchange And Interdependence – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Trade Exchange And Interdependence Quiz 8 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Tourism also promotes: A) International trade. B) Public integration. C) National integration. D) None of above. Show Answer Correct Answer: C) National integration. 2. A country that lacks ability to logistically transport imports & exports would be concerned with which component of the international business environment? A) Geography. B) Economy. C) Infrastructure. D) Culture. Show Answer Correct Answer: C) Infrastructure. 3. What is mercantilism? A) A democratic theory that trade generates wealth. B) A democratic theory that trade generates dept. C) The economic theory that trade generates wealth. D) The economic theory that trade generates dept. Show Answer Correct Answer: C) The economic theory that trade generates wealth. 4. Who are the main trading partners of the US? A) Germany, Great Britain, China, and France. B) The Central American countries. C) Canada, Mexico, and China. D) The Middle Eastern countries. Show Answer Correct Answer: C) Canada, Mexico, and China. 5. Before coins or paper money, many people used what system of exchange? A) IOU system. B) Eye for an eye. C) Barter system. D) Food for goods. Show Answer Correct Answer: C) Barter system. 6. Which of the following is not part of the arguments about trade protection? A) The national security. B) A souree of the government revenue. C) The protection of domestic jobs. D) The potential for corruption. Show Answer Correct Answer: D) The potential for corruption. 7. The ability to produce a product most efficiently given all the other products that could be produced. A) Absolute Advantage. B) Positive Advantage. C) Comparative Advantage. D) Negative Advantage. Show Answer Correct Answer: C) Comparative Advantage. 8. The Black Death spread along which trade route? A) Columbian Exchange. B) Silk Road. C) Trans-Saharan Trade Routes. D) Indian Ocean Trade Complex. Show Answer Correct Answer: B) Silk Road. 9. The exchange of goods and services is known as what? A) Quotas. B) Foreign Exchange. C) Trade. D) Specialization. Show Answer Correct Answer: C) Trade. 10. What products came out of the West Indies to supply the colonies? A) Guns and Butter. B) Sugar and Molasses. C) Furs and Lumber. D) Fish and Tobacco. Show Answer Correct Answer: B) Sugar and Molasses. 11. When the exchange rate rises what happens to the value of the currency against other currencies? A) It stays the same. B) It goes up. C) It goes down. D) None of above. Show Answer Correct Answer: B) It goes up. 12. Exchange rates among the currencies of the world change ..... A) Constantly. B) Rarely. C) Annually. D) Slowly. Show Answer Correct Answer: A) Constantly. 13. What do countries such as Iran, Iraq, Kuwait, and Saudi Arabia specialize in? A) Farming. B) Oil. C) Diamonds. D) Gold. Show Answer Correct Answer: B) Oil. 14. Purpose:To hurt a country's economy A) Quota. B) Tariff. C) Embargo. D) None of above. Show Answer Correct Answer: C) Embargo. 15. The ..... Bank:* works to solve poverty issues in developing countries. * provides loans and grants to help countries. * shares knowledge with economic leaders. A) Bank of. B) United Nation's. C) Global. D) World. Show Answer Correct Answer: D) World. 16. Tariff, Quota and embargo are all examples of a A) Economic system. B) Currency exchange. C) Specialization. D) Trade barrier. Show Answer Correct Answer: D) Trade barrier. 17. One argument against NAFTA A) Economic growth. B) Outsources jobs to outside countries. C) Lower prices of goods. D) Increase competition. Show Answer Correct Answer: B) Outsources jobs to outside countries. 18. How did diseases impact the New World? A) They wiped out 75-90% of the Europeans. B) They didn't. C) They helped the natives beat the Spanish. D) They wiped out 75-90% of the indigenous people. Show Answer Correct Answer: D) They wiped out 75-90% of the indigenous people. 19. India's share in world export is: A) 1%. B) Less than 1%. C) 3%. D) 2%. Show Answer Correct Answer: D) 2%. 20. The Columbian Exchange was started due to the discovery of America by ..... ? A) Christopher Columbus. B) John Cabot. C) Henry Hudson. D) Leif Erikson. Show Answer Correct Answer: A) Christopher Columbus. 21. A proportion or share A) Tariff. B) Subsidy. C) Quota. D) Standard. Show Answer Correct Answer: C) Quota. 22. How did they know it was time to trade? A) A boy hit a drum. B) They rang a bell. C) They ran a race. D) They sent up smoke signals. Show Answer Correct Answer: A) A boy hit a drum. 23. Value of all goods and services exported from a country minus the value of all goods and services imported from outside the country. A) Free trade. B) Protectionism. C) Balance of trade. D) None of above. Show Answer Correct Answer: C) Balance of trade. 24. Floating exchange rates A) Are set daily by the Fed. B) Are an established by an agreement of two nations. C) Values are determined by supply and demand. D) Are a result of bilateral agreements. Show Answer Correct Answer: C) Values are determined by supply and demand. 25. During the second Silk Roads era, these two groups began trading with one another for the first time: A) The Huns and Mings. B) The wealthy and poor. C) The Arabs and Chinese. D) The Wongs and Abulas. Show Answer Correct Answer: C) The Arabs and Chinese. 26. How did the African kings view the Africans they sold? A) Criminals, debtors, prisoners of war. B) Fellow Africans. C) Cannibals and animals. D) As property. Show Answer Correct Answer: A) Criminals, debtors, prisoners of war. 27. The value of the output of all final goods and services produced within a country in a year. A) Total ouput. B) National income. C) Gross Domestic Product. D) Net domestic product. Show Answer Correct Answer: C) Gross Domestic Product. 28. What will be the impact of a fall in the exchange rate on a business that sells imported goods in its own country? A) None. B) It will have to pay more for those goods. C) It will pay less for those goods. D) None of above. Show Answer Correct Answer: B) It will have to pay more for those goods. 29. What is a currency system in which each country tries to keep the value of its currency constant against one another called? A) Flexible exchange rate. B) Floating currency exchange. C) Constant pricing. D) Fixed exchange rate. Show Answer Correct Answer: D) Fixed exchange rate. 30. A tax on imports is a/an: A) Embargo. B) Quota. C) Tariff. D) Veto. Show Answer Correct Answer: C) Tariff. ← 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 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books