This quiz works best with JavaScript enabled. Home > Economics > International > Trade > Trade Exchange And Interdependence – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Trade Exchange And Interdependence Quiz 9 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which is not part of the Old World? A) Africa. B) Asia. C) North & South America. D) Europe. Show Answer Correct Answer: C) North & South America. 2. A tax placed on imported goods. million pounds per year. A) Quota. B) Tariff. C) Embargo. D) None of above. Show Answer Correct Answer: B) Tariff. 3. NAFTA caused trade barriers to be reduced resulting in- A) Surge in immigration. B) Decrease in price of goods. C) Rise in taxes on products. D) Decline in factory production. Show Answer Correct Answer: B) Decrease in price of goods. 4. They shared their ..... and ..... in Latin America. A) Roman, religion. B) Religion, language. C) Roman, language. D) Catholicism. Show Answer Correct Answer: B) Religion, language. 5. Goods which are transported out of a country to another country. A) Imports. B) Exports. C) Trade. D) Bartering. Show Answer Correct Answer: B) Exports. 6. Open account is a sale on credit where A) Buyer pay the good first and seller collects payment later. B) Seller sends the good first and collects payment later. C) Buyer and seller did not send goods and payment. D) None of above. Show Answer Correct Answer: B) Seller sends the good first and collects payment later. 7. A government order stopping trade with another country A) Quota. B) Embargo. C) Tariff. D) Veto. Show Answer Correct Answer: B) Embargo. 8. What is bartering? A) Trading without value. B) Selling what you do not need. C) Trading without using money. D) Selling what you need most. Show Answer Correct Answer: C) Trading without using money. 9. What does the UAE export to Japan? A) Cars. B) Electronics. C) Oil. D) All answers are correct. Show Answer Correct Answer: C) Oil. 10. The Europeans sailed to the Americas in ..... A) 1492. B) 1488. C) 1776. D) 1787. Show Answer Correct Answer: A) 1492. 11. What is an epidemic? A) The top layer of your skin. B) The problems caused by poor nutrition. C) Germs that are shared among people. D) An outbreak of disease that spreads quickly. Show Answer Correct Answer: D) An outbreak of disease that spreads quickly. 12. Which countries are most directly affected by NAFTA? A) The United States, Canada, and Mexico. B) Members of the World Trade Organization. C) The United Kingdom, France, and Germany. D) All of the most favored nations (MFNs). Show Answer Correct Answer: A) The United States, Canada, and Mexico. 13. What was the results of merchants and traders reinvesting more money into other enterprises? A) Businesses across Europe shrunk and withered. B) Businesses across Africa grew and flourished. C) Businesses across Asia grew and flourished. D) Businesses across Europe grew and flourished. Show Answer Correct Answer: D) Businesses across Europe grew and flourished. 14. The main benefits of free trade include A) Peace, better choice, prices and quality. B) Less imports because they cant penetrate strong markets. C) The sharing of the world s resources. D) Greater benefits for less developed economies as they can trade more. Show Answer Correct Answer: A) Peace, better choice, prices and quality. 15. When the exchange rate rises what happens to the demand for imports? A) It rises. B) It falls. C) It stays the same. D) None of above. Show Answer Correct Answer: A) It rises. 16. Why did the Chinese decide to interact with their European neighbors? A) A. They wanted new friends. B) B. They wanted to have camel races. C) They each wanted goods and rare material from each other. D) D. They wanted to conquer new land. Show Answer Correct Answer: C) They each wanted goods and rare material from each other. 17. A ban on trade with a particular country. A) Subsidy. B) Tariff. C) Quota. D) Embargo. Show Answer Correct Answer: D) Embargo. 18. When a country has the ability to produce more of a product relative to another country. A) Favorable Balance of Favorable Balance of Trade. B) Comparative Advantage. C) Positive Net Export. D) Absolute Advantage. Show Answer Correct Answer: D) Absolute Advantage. 19. Which of the following is most directly affected by an embargo established by the United States? A) U.S. exports. B) U.S. free traders. C) U.S. imports. D) U.S. tariffs. Show Answer Correct Answer: A) U.S. exports. 20. Which was traded from the Old World to the New World? A) Horses and major diseases. B) Squash, pumpkins, and turkeys. C) Cocoa and horses. D) Cocoa and llamas. Show Answer Correct Answer: A) Horses and major diseases. 21. Which of the following is one of the negative effects of global trade? A) Loss of technology. B) Spread of diseases. C) Cooler planet temperatures. D) Large scale wars. Show Answer Correct Answer: B) Spread of diseases. 22. If there is high inflation in the UAE what would happen the value of the Dirham and GDP? A) Decrease, decrease. B) Increase, increase. C) Increase, decrease. D) Decrease, increase. Show Answer Correct Answer: A) Decrease, decrease. 23. Focusing on a narrow range of products/services that can be produced most efficiently and cost-effectively A) Trade Barrier. B) Currency Exchange. C) Specialization. D) Voluntary Trade. Show Answer Correct Answer: C) Specialization. 24. In 2010, China announced that it would impose and import a tax on American poultry of up 105.4 percent. A) Tariff. B) Embargo. C) Quota. D) None of above. Show Answer Correct Answer: A) Tariff. 25. What is the increase in the value of a currency? A) Appreciation. B) Exchange rate. C) Recession. D) Depreciation. Show Answer Correct Answer: A) Appreciation. 26. The Silk Road crossed ..... A) North and South America. B) Europe, South America, and Africa. C) Asia, Europe, and Antarctica. D) Africa, Europe, and Asia. Show Answer Correct Answer: D) Africa, Europe, and Asia. 27. Interest rates in Japan have increased and are now higher than US interest rates. What would happen the value of the dollar? A) It would increase. B) It would decrease. C) It would remain the same. D) None of above. Show Answer Correct Answer: B) It would decrease. 28. The exchange of goods and services without the use of money ..... A) Consumer. B) Service. C) Barter. D) Producer. Show Answer Correct Answer: C) Barter. 29. Which type of country is likely to have the biggest surplus in invisible trade? A) Developing country. B) Emerging country. C) Developed country. D) None of above. Show Answer Correct Answer: C) Developed country. 30. The ..... was the most important animal that Europeans brought to the New World. A) Horse. B) Cow. C) Crop. D) Dog. Show Answer Correct Answer: A) Horse. ← 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