Unit 4 International Economics

Unit 4 International Economics

12th Grade

15 Qs

quiz-placeholder

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Unit 4 International Economics

Unit 4 International Economics

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

David Brown

Used 281+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability to produce more of a given product using a given amount of a resource.

Absolute Advantage

Comparative Advantage

Positive Advantage

Negative Advantage

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability to produce a product most efficiently given all the other products that could be produced.

Absolute Advantage

Comparative Advantage

Positive Advantage

Negative Advantage

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The value of all monetary transactions between a country's economy and the rest of the world.

Balance of Trade

Trade Deficit

Balance of Payments

Trade Surplus

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The relationship between the value of a country's exports and the value of its imports.

Trade Deficit

Trade Surplus

Balance of Trade

Balance of Payments

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A situation in which a nation imports more goods and services than it exports.

Balance of Trade

Balance of Payments

Trade Surplus

Trade Deficit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A situation in which a nation exports more goods and services than it imports.

Balance of Payments

Trade Surplus

Trade Deficit

Balance of Trade

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A means of preventing a foreign product of service from freely entering a nation's territory.

Trade War

Trade Off

Trade Association

Trade Barrier

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