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International Trade

Authored by Jonathan Peters

Social Studies

12th Grade

Used 65+ times

International Trade
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17 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens when a nation’s currency depreciates?

Its imports increases.

Its products become more expensive to other nations.

Its products become cheaper to other nations.

Its trade decreases.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A nation has a deficit in its international balance of trade when______________.

government expenditures exceed tax revenues

it buys goods of greater value from other nations that it sells to them

it sells goods of greater value to other nations than it buys from them

it invests more in other countries that it receives from them

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Japan increased its tariff on U.S. made cars by 50%. The U.S. raised the tariffs on Japan’s products such as cameras. Which of the following would result from the change in tariffs on cars and cameras?

The standard of living would remain the same.

The standard of living would decrease.

The standard of living would be unpredictable.

The standard of living would increase.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assume that all nations have low tariffs. Each country freely buys and sells to other countries. However, as a result of a rise in nationalism, each country imposes high tariffs. Which of the following would likely occur?

Interdependence between nations will stay the same.

Interdependence between nations will decrease.

Standard of living in both nations will increase.

Interdependence between nations will increase.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

International trade and specialization most often lead to which of the following?

A decrease in a nation’s economic growth in the long term.

An increase in a nations productivity.

An increase in a nation’s import tariffs

A decrease in a nation’s standard of living.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The U.S. Congress places a quota on sweaters made in Afghanistan. This decreases the number of sweaters America will purchase from Afghanistan. Which of the following would result from the change in quota for sweaters?

The price of sweaters from Afghanistan sold in the U.S. will increase.

The price of sweaters from U.S. sold in Afghanistan will increase.

The price of sweaters from Afghanistan sold in the U.S. will remain the same.

The price of sweaters from Afghanistan sold in the U.S. will decrease.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the process of specialization do for an economy?

It makes it easier to control.

It fosters competition.

It eliminates unemployment.

It makes the economy more efficient.

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