This quiz works best with JavaScript enabled. Home > International > Trade > Trade Exchange And Interdependence – Quiz 18 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Trade Exchange And Interdependence Quiz 18 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A country is trying to build by a nuclear arms program that might threatened national security. What is the BEST trade barrier option against that country? A) Tariff. B) Quota. C) Currency exchange. D) Embargo. Show Answer Correct Answer: D) Embargo. 2. The lowering or elimination of protective tariffs and other trade barriers between two or more nations. A) Free Trade. B) Embargos. C) Trade Barriers. D) Foreign Exchange Rate. Show Answer Correct Answer: A) Free Trade. 3. What is NAFTA? A) North American Foreign Trade Agreement. B) North American Free Trade Agreement. C) North American Farmers Treaty Agreement. D) North American Financial Tariffs Agreement. Show Answer Correct Answer: B) North American Free Trade Agreement. 4. What are goods called that are brought into one country from another? A) Bartering. B) Specialization. C) Exports. D) Imports. Show Answer Correct Answer: D) Imports. 5. An import: A) Is producing certain goods very well and for a reduced cost. B) Is items sold to other countries. C) Is dependence on others to get products you do not produce and needing to purchase items from them. D) Is items purchased from other countries. Goods come into the USA. Show Answer Correct Answer: D) Is items purchased from other countries. Goods come into the USA. 6. Cash crops in the English colonies such as tobacco, rice, and indigo were sold in Europe in exchange for manufactured goods that ..... ..... be produced in the colonies. A) Could not. B) Must be. C) Wanted to. D) None of above. Show Answer Correct Answer: A) Could not. 7. Country ProductGrenada Nutmeg, MaceJamaica Coffee, BauxiteBarbados SugarAntigua PineappleGuyana Bauxite, RiceTrinidad Asphalt, OilWhich two countries produce the same item? A) Jamaica and Antigua. B) Jamaica and Guyana. C) Trinidad and Barbados. D) Trinidad and Guyana. Show Answer Correct Answer: B) Jamaica and Guyana. 8. The relationship between the value of a country's exports and the value of its imports. A) Trade Deficit. B) Trade Surplus. C) Balance of Trade. D) Balance of Payments. Show Answer Correct Answer: C) Balance of Trade. 9. This is the most restrictive of the trade restrictions a nation can use to close off all importation of a product. A) Tariff. B) Quota. C) Subsidy. D) Embargo. Show Answer Correct Answer: D) Embargo. 10. Monetary policy that reduces the interest rates will do which of the following? A) Appreciation of domestic currency. B) Decrease in exports. C) Increase in imports. D) Depreciation of the domestic currency. Show Answer Correct Answer: D) Depreciation of the domestic currency. 11. What are "remittances?" A) Driver's license. B) Person who flees a country due to war. C) Legal documents to show you own a car. D) Money that an immigrant sends back home to his family in his native country. Show Answer Correct Answer: D) Money that an immigrant sends back home to his family in his native country. 12. Which of the following Countries is the largest trading partner of India? A) US. B) UK. C) UAE. D) China. Show Answer Correct Answer: A) US. 13. When one country has an absolute advantage in producing a product, then that country can typically benefit by ..... that product. A) Exporting. B) Importing. C) Hording it for themselves. D) None of above. Show Answer Correct Answer: A) Exporting. 14. A trade deficit occurs when.. A) Exports and imports are the same. B) Exports are higher than imports. C) Exports are lower than imports. D) None of above. Show Answer Correct Answer: C) Exports are lower than imports. 15. Many people died because of ..... the Europeans ..... brought to the New World, such as smallpox. A) Diseases, unintentionally. B) Mortality, mines. C) Plantations, religion. D) Europe, Europeans. Show Answer Correct Answer: A) Diseases, unintentionally. 16. What is the Columbian Exchange? A) The exchange of Columbians. B) The trading of goods between Colombia and other countries. C) The global transfer of foods, plants, and animals during the colonization of the Americas. D) The exchange between Christopher Columbus and other explorers. Show Answer Correct Answer: C) The global transfer of foods, plants, and animals during the colonization of the Americas. 17. Which sentence best states the main idea of the article? A) "Have you ever swapped sandwiches with a friend at lunchtime?". B) "Trade allows people to sell, buy, or exchange goods and services to get what they need.". C) "For example, in some countries, people grow a lot of rice.". D) None of above. Show Answer Correct Answer: B) "Trade allows people to sell, buy, or exchange goods and services to get what they need.". 18. Domestic goods and services sold to buyers in other nations. A) Import. B) Export. C) Interdependance. D) Surplus. Show Answer Correct Answer: B) Export. 19. Why did Constantinople's geography make it wealthy? A) The city was a stop along the Silk Road. B) The city paid many pirates to plunder trade ships. C) The city was located near all the major trade routes. D) The city had much of the old Roman money in its banks. Show Answer Correct Answer: C) The city was located near all the major trade routes. 20. Which is NOT a benefit of free trade agreements? A) *Promote greater trade among the parties. B) *Increases competition and specialization. C) *Broadens the market. D) *Makes everyone happy. Show Answer Correct Answer: D) *Makes everyone happy. ← 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