Theme 4 Test 1

Theme 4 Test 1

12th Grade

60 Qs

quiz-placeholder

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Theme 4 Test 1

Theme 4 Test 1

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

David Urquhart

Used 32+ times

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60 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trading blocs are when the governments of a group of countries agree to trade together freely i.e. normally with no trade barriers.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Members agree to either reduce or eliminate trade barriers for a select number of goods or services, resulting in partial trade liberalisation. This is ......

Preferential trade areas

Free trade areas

Customs unions

Economic unions

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic Union comprises of the features of both a customs union and a common market, including common economic policies.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Members agree to the removal of trade barriers as well as the freedom of movement of factors of production within the bloc.

Customs unions

Common markets

Free trade areas

Preferential trade areas

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Often also involves the agreement of common economic policies is a feature of .....

Free Trade area

Preferential Trade Area

Customs Union

Common Market

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Example: In 2005, the United States limited the imports of Chinese textiles to 7.5% a year.

Quota
Tariff
Embargo

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Example: In 1996, the US taxed imported grapes, ceramic tableware, and motorcycles.

Quota
Tariff
Embargo

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