
Trade Balance Quiz
Passage
•
Social Studies
•
11th Grade
•
Hard
Wayground Content
FREE Resource
23 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the balance of trade?
Government expenditures that exceed revenues.
The section of a nation's balance of payments that records its exports and imports of goods and services.
The difference in value between a country's exports and imports.
A contract that states the conditions under which one party (a person or institution) promises to pay another party cash at some point in the future.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a trade deficit indicate for the United States according to the text?
The United States is losing jobs to other nations.
It is a function of national saving and investment decisions.
It is a clear indicator of the success of U.S. firms.
It is a measure of the fairness of international trade.
3.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
What was the U.S. trade deficit for 2015?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a current account?
The difference in value between a country's exports and imports.
Government expenditures that exceed revenues.
A resource with economic value that an individual, corporation, or country owns.
The section of a nation's balance of payments that records its exports and imports of goods and services.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As of July 2016, what was the goods and services deficit in the U.S.?
$23.2 billion
$531.5 billion
$39.5 billion
$500.5 billion
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the two subaccounts of a country's balance of payments?
The current account and the capital account
The trade account and the financial account
The capital account and the services account
The current account and the capital and financial account
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a country has positive net exports, what is the effect on the current account?
The country has a trade surplus.
The country has a trade deficit.
The country's capital and financial account increases.
The country's capital and financial account decreases.
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