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Economic Unit 4 Review

Authored by Chris Schriever

Other

11th - 12th Grade

Used 33+ times

Economic Unit 4 Review
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A nation imports $5.3 billion and exports $5.2 billion. That nation definitely has what?

A trade deficit
A trade surplus
A negative balance of payments30 characters remaining
A positive balance of payments

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which nation has the absolute advantage in producing cars?

Country A
Country B

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

In the table, the US dollar is worth approximately how many Japanese Yen (JPY)?

.0109
.8619
92.1232
1

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does it mean if the dollar goes down in value?

Americans can buy more foreign goods.
Americans can buy less foreign goods.
the trade deficit increases.
Americans travel more.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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The US gov't puts a 20% tax on all candy from Europe. This is an example of a ___.

Protectionism
Embargo
Tariff
Quota

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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Which would a supporter of free trade most likely support?

a "Buy American" program
Job protection legislation
increasing quotas
reducing tariffs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A country's currency appreciates, this means their imports ___ & their exports _____.

increase; increase
increase; decrease
decrease; increase
decrease; decrease

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