3. Foreign Policy Review 23-24 (Civics)

When a country exports more than it imports

• Exchange rate

• Trade surplus

• Quotas

• Trade deficit

What are taxes on imported goods called?

• Tariffs

• Quotas

• NSF Fees

• Customs

When a country imports more than it exports

• Trade Surplus

• Trade Deficit

• Trade Sanctions

• Trade Exchange Rate

What is it called when a country limits the amount of goods from a foreign country that can be brought into and sold in their country?

• Trade Embargos

• Trade Quotas

• Tariffs

• Exchange Rate

When a country restricts trade through quotas, tariffs and other regulations this is called:

• Globalization

• Imperialism

• Protectionism

• Isolationism

The belief that barriers to trade, communication, and cultural exchange should be eliminated:

• Globalization

• Imperialism

• Isolationism

• Protectionism

When a country declines to enter into alliances, foreign economic commitments, foreign trade or treaties, this is called:

• Globalization

• Imperialism

• Isolationism

• Protectionism

What currency was created by the European Union as a common currency accepted by all members?

• The Gyro

• The Yolo

• Dogecoin

• The Euro

Which of these is not one of the reasons why nations trade?

• To even out the balance of trade

• To create jobs

• To reflect comparative advantage

• To obtain goods they cannot produce

Thanks to a new deal with Brazil that has cut tariffs on imported goods, local retail prices for three imported fruits, namely apples, kiwis and nectarines, should be cut by $3-$4 per pound.

• National Security

• Establishing Free Trade

• Promoting World Peace

• Supporting Democracy

• Providing Aid to People in Need