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Trade Exchange And Interdependence Quiz 6 (20 MCQs)

Quiz Instructions

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1. Which term refers to an agreement between three or more countries or organizations?
2. To make imported goods more expensive
3. Financial Account transactions include items such as
4. Higher income levels in the US would result in
5. A barrier is meant to
6. Example:In 2012, the United States Commerce Department announced that it would impose a tax ranging from 2.9% to 4.7% on Chinese made solar panels.
7. A tax on imports is called a(n):
8. Why do countries have to set up a system of currency exchange?
9. The president Trump has enacted tariff barriers China against China and a lot of people worried that China might retaliate and enact the same tariff barriers? This event involving:
10. To work toward a goal while attempting to defeat rivals
11. Example:In 1963, President Kennedy issued sanctions, which prohibited all trade with Cuba.
12. A government payment that supports a business or market.
13. What is purpose of OPEC?
14. A major cost of freer trade from poor nations is that they will
15. This occurs when different countries choose to engage in the exchange of goods with one another.
16. Suppose the exchange rate between the United States and Japan changes from $ 1 = 100 yen to $ 1 = 110 yen. What would happen to the prices of American goods in Japan?
17. A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (taxes on exports).
18. Saudi Arabia produces large amounts of oil and export to other countries for profit. Other countries including the U.S. purchase this oil and pay taxes in the process of doing so.What is this an example of?
19. What were some things that Africa and Asia gave to the Americas?
20. What is the currency people use in much of the EU called?
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