This quiz works best with JavaScript enabled. Home > International > Trade > Trade Exchange And Interdependence – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Trade Exchange And Interdependence Quiz 12 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is mercantilism? A) The economic theory that trade generates dept. B) A democratic theory that trade generates wealth. C) The economic theory that trade generates wealth. D) A democratic theory that trade generates dept. Show Answer Correct Answer: C) The economic theory that trade generates wealth. 2. 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. 3. Before coins or paper money, many people used what system of exchange? A) Eye for an eye. B) Barter system. C) IOU system. D) Food for goods. Show Answer Correct Answer: B) Barter system. 4. 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 potential for corruption. D) The protection of domestic jobs. Show Answer Correct Answer: C) The potential for corruption. 5. The ability to produce a product most efficiently given all the other products that could be produced. A) Absolute Advantage. B) Comparative Advantage. C) Positive Advantage. D) Negative Advantage. Show Answer Correct Answer: B) Comparative Advantage. 6. The Black Death spread along which trade route? A) Indian Ocean Trade Complex. B) Silk Road. C) Columbian Exchange. D) Trans-Saharan Trade Routes. Show Answer Correct Answer: B) Silk Road. 7. The exchange of goods and services is known as what? A) Foreign Exchange. B) Trade. C) Quotas. D) Specialization. Show Answer Correct Answer: B) Trade. 8. 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. 9. 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. 10. Exchange rates among the currencies of the world change ..... A) Constantly. B) Rarely. C) Annually. D) Slowly. Show Answer Correct Answer: A) Constantly. 11. What do countries such as Iran, Iraq, Kuwait, and Saudi Arabia specialize in? A) Diamonds. B) Gold. C) Farming. D) Oil. Show Answer Correct Answer: D) Oil. 12. Purpose:To hurt a country's economy A) Quota. B) Tariff. C) Embargo. D) None of above. Show Answer Correct Answer: C) Embargo. 13. The ..... Bank:* works to solve poverty issues in developing countries. * provides loans and grants to help countries. * shares knowledge with economic leaders. A) World. B) Global. C) Bank of. D) United Nation's. Show Answer Correct Answer: A) World. 14. Tariff, Quota and embargo are all examples of a A) Trade barrier. B) Specialization. C) Currency exchange. D) Economic system. Show Answer Correct Answer: A) Trade barrier. 15. One argument against NAFTA A) Lower prices of goods. B) Outsources jobs to outside countries. C) Increase competition. D) Economic growth. Show Answer Correct Answer: B) Outsources jobs to outside countries. 16. How did diseases impact the New World? A) They didn't. B) They wiped out 75-90% of the Europeans. C) They wiped out 75-90% of the indigenous people. D) They helped the natives beat the Spanish. Show Answer Correct Answer: C) They wiped out 75-90% of the indigenous people. 17. India's share in world export is: A) Less than 1%. B) 1%. C) 2%. D) 3%. Show Answer Correct Answer: C) 2%. 18. The Columbian Exchange was started due to the discovery of America by ..... ? A) Henry Hudson. B) Leif Erikson. C) John Cabot. D) Christopher Columbus. Show Answer Correct Answer: D) Christopher Columbus. 19. A proportion or share A) Tariff. B) Subsidy. C) Quota. D) Standard. Show Answer Correct Answer: C) Quota. 20. What is money? A) Checks. B) Treasure. C) Jewelry. D) Coins and paper used to buying things. Show Answer Correct Answer: D) Coins and paper used to buying things. ← PreviousNext →Related QuizzesInternational 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 8Trade Exchange And Interdependence Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books