This quiz works best with JavaScript enabled. Home > International > Trade > Trade Exchange And Interdependence – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Trade Exchange And Interdependence Quiz 8 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Why would a country want to begin using trade barriers such as tariffs or quotas? A) To make goods cheaper. B) To expand their markets. C) To protect domestic jobs. D) To stimulate the economy. Show Answer Correct Answer: C) To protect domestic jobs. 2. Through the interaction of trade Afro-Eurasia shares? A) Artistic styles. B) Religions. C) Technologies. D) All of the above. Show Answer Correct Answer: D) All of the above. 3. The term Latin America comes from the ..... languages that are spoken in this area. A) Roman. B) Portuguese. C) Spanish. D) Catholicisim. Show Answer Correct Answer: A) Roman. 4. What do we call the difference between the value of exports and the value of imports? A) The balance of trade. B) The terms of trade. C) The pattern of trade. D) None of above. Show Answer Correct Answer: A) The balance of trade. 5. What word does NOT refer to the exchange of goods and services A) Barter. B) Trade. C) Transaction. D) Indolence. Show Answer Correct Answer: D) Indolence. 6. The reason Africans were used as slaves was because the ..... people died of diseases the ..... brought with them to the ..... A) Horribe, plantations, europeans. B) Indigenous, Europeans, New World. C) Europeans, indigenous, New World. D) None of above. Show Answer Correct Answer: B) Indigenous, Europeans, New World. 7. Landlocked nations, or those with mountains, and rainforests ..... all of these are examples of ..... A) Embargoes. B) Quotas. C) Tariffs. D) Natural trade barriers. Show Answer Correct Answer: D) Natural trade barriers. 8. What is swap? A) A trade or exchange. B) Money. C) Worth of something. D) A tribe. Show Answer Correct Answer: A) A trade or exchange. 9. Using foreign resources instead of domestic resources A) Multinational corporation. B) Globalization. C) Interdependent. D) Outsourcing. Show Answer Correct Answer: D) Outsourcing. 10. Example:In 2005, the United States limited the imports of Chinese textiles to 7.5% a year. A) Quota. B) Tariff. C) Embargo. D) None of above. Show Answer Correct Answer: A) Quota. 11. This account records a nation's imports and exports of goods, services, net investment income, and net transfers. A) Current account. B) Financial/capital account. C) Official reserves. D) None of above. Show Answer Correct Answer: A) Current account. 12. What is the difference between nations exports and imports? A) Balance of Trade. B) Real GDP. C) Comparative Advantage. D) Absolute Advantage. Show Answer Correct Answer: A) Balance of Trade. 13. In 1962, the United States prohibited all imports and exports to and from Cuba. A) Tariff. B) Embargo. C) Quota. D) None of above. Show Answer Correct Answer: B) Embargo. 14. Country ProductGrenada Nutmeg, MaceJamaica Coffee, BauxiteBarbados SugarAntigua PineappleGuyana Bauxite, RiceTrinidad Asphalt, OilWhich country is most likely to export materials for fixing roads? A) Barbados. B) Guyana. C) Antigua. D) Trinidad. Show Answer Correct Answer: D) Trinidad. 15. What would a free-trader most likely support? A) The infant industries argument. B) A revenue tariff. C) NAFTA. D) An embargo. Show Answer Correct Answer: C) NAFTA. 16. Which European country has the GREATEST impact upon the religion and language of modern-day Brazil? A) Portugal. B) England. C) France. D) Spain. Show Answer Correct Answer: A) Portugal. 17. This is a type of protectionist trade that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time. A) Tariff. B) Quota. C) Embargo. D) None of above. Show Answer Correct Answer: B) Quota. 18. There are ..... types under collection method A) One. B) Two. C) Three. D) None of above. Show Answer Correct Answer: B) Two. 19. Purpose:To prevent too much of a good from entering a country A) Quota. B) Tariff. C) Embargo. D) None of above. Show Answer Correct Answer: A) Quota. 20. The following our included in the current account except A) Net Exports. B) Investment Income. C) Net Capital Outflow. D) Net Transfers. Show Answer Correct Answer: C) Net Capital Outflow. ← 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 9Trade Exchange And Interdependence Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books