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Authored by Cyprus O'NEAL

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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one reason for people to exchange currency?
Because countries have different currencies that are valued differently.
Most people want to use the Brazilian real to trade.
They don't because people can use any currency at any business in the world.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What makes it easier for people and businesses from different countries to trade with each other?
high tariff rates
the use of embargoes
investment in capital goods
a currency exchange system
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How has the North American Free Trade Agreement increased trade between the nations of Canada, Mexico, and the United States?
by reducing tariffs
by imposing quotas
by establishing emabargoes
by prohibiting foreign investment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under the Clinton administration, the United States entered into a trade agreement with Mexico and Canada. What was the purpose of this agreement?
to encourage the production of oil resources in North America
to protect the domestic agriculture industry in the United States
to reduce economic barriers to trade between the three countries
to promote the nationalization of major industries in the countries
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term is used to refer to a country focusing on producing a relatively small number of goods or services based on what the country can produce most efficiently?
opportunity cost
competition
specialization
entrepreneurship
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the United States placed a ban on importing and exporting goods to Cuba after the Cuban Missile Crisis, this is an example of which of the following?
Tariff
Embargo
Quota
Limited
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is true of free trade between Canada and the United States?
It discourages the countries from producing goods their citizens need, like food.
It is only beneficial to the wealthiest of the two countries, the United States.
It allows each country to specialize in the production of certain goods.
It benefits all workers and consumers in each of the two countries.
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