Big 20 #5 Review

Where is Israel?

• 1

• 2

• 3

• 4

Which of the following is not a trade barrier?

• subsidy

• tariff

• quota

• embargo

A limit on the amount of foreign goods allowed into a country is called​ ​ (a)   A tax on imported goods or goods being brought into a country is called ​ (b)   Stopping trade completely with another country is called ​ (c)  

• quota
• tariff
• embargo

Creation of the new state of Israel in 1948 began with conflict. The Palestinians did not want to share their land with the Jews and a war broke out. Who joined with the Palestinians to fight the creation of a new country?

• neighboring Arab countries

• United States

• major nations in Europe

• United Nations

What was the outcome of the war between Palestine and Israel in 1948?

• Palestine won and took almost all of Israel's land.

• The Palestinians won and the UN withdrew the establishment of Israel.

• Israel won and gained more territory.

Which country has an economy that is mixed and moving away from command?

• South Korea

• China

• Cuba

• North Korea

Palestinians are of the Persian ethnic group.

• true

• false

Israel was created mainly because

• Jewish people throughout Europe were left displaced after the Holocaust.

• The belief that God promised Abraham the land for Jews and the Zionist movement popularizing this idea.

• all of the above

• none of the above

Which country is China?

• 1

• 2

• 3

• 4

Why do we need to know the currency exchange rate when trading with other countries?

• Most goods bought on the international market must be paid for in US dollars.

• Nearly all world currencies are worthless on the world market.

• We need to compare the value of each currency to be able to trade with different types of $ & trade fairly.