Year 12 Economics

Year 12 Economics

12th Grade

20 Qs

quiz-placeholder

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Year 12 Economics

Year 12 Economics

Assessment

Quiz

Other

12th Grade

Hard

Created by

Meagan Lamoen

Used 51+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following best explains the benefits of globalization?

Globalization creates a better environment for businesses to profit in through the loss of consumer surplus

Globalization promotes ethical behaviour

Globalization increases innovation and development

Globalization is driven by increased technology

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is not an argument for trade liberalization?

The infant industry argument

The resource allocation argument

The most favored nation argument

The innovation argument

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The World Trade Organisation’s key purpose is to:

Promote trade by working to improve global monetary cooperation

Promote trade by ensuring that rules to protect nations exist and are followed

Promote trade by providing technical assistance and advice to developing nations

Promote trade by assisting nations to form Free Trade Agreements

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The key role of the International Monetary Fund is to:

Ensure that trade flows smoothly, predictably and freely

Provide low interest loans to developing nations to allow them to develop industries for trade

Foster global monetary cooperation, secure financial stability and promote trade

Promote global, regional and bilateral trade agreements

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following trading blocs is Australia not a member of?

ASEAN

OPEC

TPP

The Cairns Group

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following FTAs is the most recent for Australia?

Australia-United Kingdom FTA

Peru-Australia FTA

Indonesia-Australia FTA

China-Australia FTA

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is a non-economic argument for protection?

Anti-dumping

Infant industry

Diversification

National defense

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