US & Canada: Economic Activities Quiz

What is the main factor that promotes a complex network of trade among countries?

• Cultural barriers

• Unequal distribution of natural resources

• Language barriers

• Legal system differences

Which country has the second-largest oil reserves in the world?

• Mexico

• Canada

• Brazil

• United States

What is the name of the trade pact signed in 1992 that gradually eliminated most tariffs and other trade barriers on products and services passing between the United States, Canada, and Mexico?

• NAFTA

• USMCA

• EU

• ASEAN

Which region in the United States is known for attracting biotechnology companies?

• Raleigh

• Austin

• Seattle

• Silicon Valley

What percentage of Canada's exports are made up of agricultural, energy, forestry, and mining products?

• 45%

• 70%

• 62%

• 58%

What is the main source of synthetic crude oil in Canada?

• Tar sands in Alberta

• Deepwater Horizon

• Offshore drilling

• Oil shale

What is the main difference between international trade and domestic trade?

• Additional costs such as tariffs

• Cultural barriers

• Legal system differences

• Language barriers

Which country is considered a more developed country with a postindustrial society?

• United States

• Mexico

• Brazil

• Canada

What is the name of the new trade agreement that preserved much of NAFTA while also introducing a number of significant changes?

• NAFTA 2.0

• ASEAN

• EU

• USMCA

Which country is a world leader in coal exports?

• Brazil

• United States

• Canada

• Mexico