Trade barriers and Currency Exchange

380. In which country would it be most difficult for a person to start a business?

• Russia
• Germany
• United Kingdom
• about the same for each

381. In which countries do buyers and sellers usually come to agreement on prices in order to trade?

• Russia and Germany
• Russia and United Kingdom
• Germany and United Kingdom
• United Kingdom and United States

382. Which of these issues would make the United Kingdom a more desirable place to start a business than Russia?

• The government in Russia owns most industries.
• Russia's court systems always protects the rights of property owners.
• It takes less time to start a business in Russia than the United Kingdom.
• Private citizens and corporations in the United Kingdom decide how goods will be produced.

383. Which type of trade barrier involves a limit on goods brought into the country?

• quota
• tariff
• embargo
• voluntary exchange

384. In order to help Russian farmers sell more food, some people want to put a tax on the food imported from other countries. This is an example of a(n)

• quota
• tariff
• embargo
• voluntary exchange

385. Which might make an embargo against a country successful?

• Merchants are able to continue doing business.
• People in the country are not affected by the embargo.
• The country does not need to trade with other countries.
• The citizens in the country suffer because of the embargo and demand a change from their government.

386. What is the currency people use in much of the EU called?

• euro
• ruble
• dollar
• pound

387. What is the currency of Russia?

• euro
• ruble
• dollar
• pound

388. What is a problem with exchanging currency?

• People make more money by trading currency.
• Most people want to use American dollars to trade.
• Banks do not like to exchange their money for other currencies.
• It costs more to do business because banks charge fees for exchanges.

A free-trade zone means:

• You don't have to pay money to get items.
• There are no tariffs between the countries in this zone.
• Trade happens less often.
• Trade does not happen.