This quiz works best with JavaScript enabled. Home > International > Trade > Trade Exchange And Interdependence – Quiz 16 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Trade Exchange And Interdependence Quiz 16 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which trade complex included both land and sea routes? A) Silk Road. B) Indian Ocean Trade Complex. C) Mediterranean Sea Complex. D) Columbian Exchange. Show Answer Correct Answer: C) Mediterranean Sea Complex. 2. 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.) A) Tariff. B) Embargo. C) Quota. D) Specialization. Show Answer Correct Answer: B) Embargo. 3. The stage of economic development that involves questioning traditions and facing new patterns of living is A) Primitive equilibrium. B) Takeoff. C) Semi-development. D) Transition. Show Answer Correct Answer: D) Transition. 4. Nike only releases certain types of Jordans on Christmas and Thanksgiving Day each year. Due to high consumer demand, there is only a limited amount.What is this an example of? A) Tariff. B) Quota. C) Embargo. D) None of above. Show Answer Correct Answer: B) Quota. 5. Imports involve A) Goods in, money in, positive in Current Account. B) Goods in, money out, negative in Current Account. C) Goods in, money in, positive in Financial Account. D) Goods in, money out, negative in Financial Account. Show Answer Correct Answer: B) Goods in, money out, negative in Current Account. 6. Types of goods and services we export and import is called: A) Composition of trade. B) Direction of trade. C) Balance of trade. D) None of these. Show Answer Correct Answer: A) Composition of trade. 7. The Dabbawala service is a ..... year old service. A) 125. B) 124. C) 122. D) None of above. Show Answer Correct Answer: A) 125. 8. What caused Europe to acquire new business and trade practices? A) The newly acquired land and the growth of crops. B) Europe's new wealth and growth of overseas trade. C) Newly acquired humanists and the growth of philosophers. D) Newly acquired seeds and the growth of trees. Show Answer Correct Answer: B) Europe's new wealth and growth of overseas trade. 9. What happens to the price of exports when the exchange rate falls? A) The price of exports rises. B) The price of exports falls. C) Prices stay the same. D) None of above. Show Answer Correct Answer: B) The price of exports falls. 10. This is a tax on imports that is used to increase price of foreign products and raise government revenue. A) Tariff. B) Quota. C) Subsidy. D) Embargo. Show Answer Correct Answer: A) Tariff. 11. Why does Eastern Europe produce far more sugar beets than they can consume? A) So they can't affect the prices of sugar beets. B) To increase self-sufficiency. C) To trade them with the U.S. and other countries. D) To decrease interdependence. Show Answer Correct Answer: C) To trade them with the U.S. and other countries. 12. Currency appreciation results in A) Increased exports, increased imports. B) Decreased exports, decreased imports. C) Increased exports, decreased imports. D) Decreased exports, increased imports. Show Answer Correct Answer: D) Decreased exports, increased imports. 13. Which of these is an example of a trade restriction? A) Tariffs. B) Services. C) Imports. D) Economies. Show Answer Correct Answer: A) Tariffs. 14. To continually change A) Currency. B) Fluctuate. C) Euro. D) Exchange rate. Show Answer Correct Answer: B) Fluctuate. 15. An agreement to eliminate trade barriers between Canada, Mexico, and USA. A) WTO. B) MFN. C) USDA. D) NAFTA. Show Answer Correct Answer: D) NAFTA. 16. Which of the following changes would help a business that aims to export most of the goods it produces? A) A rise in the exchange rate. B) A fall in the exchange rate. C) No change in the exchange rate. D) None of above. Show Answer Correct Answer: B) A fall in the exchange rate. 17. Every year Mr. Douglas sells 1000 tons of sugar to a company in England. Which word best describes Mr. Douglas? A) Retailer. B) Importer. C) Exporter. D) Wholesaler. Show Answer Correct Answer: C) Exporter. 18. What was a favorable balance of trade? A) When people sold more goods than what they bought. B) When people bought more goods than they sold. C) When merchants traded scales. D) When trading found its inner piece. Show Answer Correct Answer: A) When people sold more goods than what they bought. 19. As native populations decreased in the Americas from sickness and overwork, Europeans looked for new sources of labor by enslaving the ..... A) Africans. B) Spanish. C) Portuguese. D) Americans. Show Answer Correct Answer: A) Africans. 20. When we exchange goods without the use of money, it is known as: A) Selling. B) Bartering. C) Buying. D) Trading. Show Answer Correct Answer: B) Bartering. ← 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