Imports, Exports, and Exchange Rates

Front

Which country is the world's largest importer?

Back

United States of America

Front

Followed by ________, the United States of America is the world's second largest exporter.

Back

China

Front

True or False: Having a trade surplus means the country exports more than it imports, while having a trade deficit means the country exports less than it imports.

Back

True

Front

Which of the following is not a disadvantage of international trade? Environmental degradation, More waste, Unfair working conditions, Cheaper products for consumers

Back

Cheaper products for consumers

Front

True or False: International trade does not promote consumerism.

Back

False

Front

Like a decks of cards, international trade ______ jobs.

Back

Shuffles

Front

True or False: What is good in aggregate, in terms of the benefits of international trade, is not necessarily good for all individuals.

Back

True

Front

True or False: Protectionism is the economic practice of placing high tariffs on imports and limiting the import of foreign goods to protect local businesses.

Back

True

Front

True or False: Protectionism is typically good for a country's economy.

Back

False

Front

Which of the following is among the most prominent international organizations that aims to eradicate protectionism? World Anti-Protectionism Organization, World Barter Organization, World Open Market Organization, World Trade Organization

Back

World Trade Organization