Economics Quiz-Hilde

What is a trade deficit?

• When a country exports more than it imports

• When a country imports more than it exports

• When a country has equal imports and exports

• When a country does not want to trade

What is a tariff?

• A limit on how many imported goods can come in

• A tax on imported goods

• A type of imported good

• A type of export

Which of the following is an example of a push factor?

• High-paying jobs

• Good schools

• Natural disasters

• Beautiful scenery

Which of the following is an example of a pull factor?

• War

• Poor healthcare

• Job opportunities

• Corrupt government

6. True or False: A quota can limit the amount of a specific product that can be imported.

• True

• I have no clue

• False

• Can I phone a friend?

True or False: Imports are things that are made elsewhere, but sold here

• Neither

• umm...

• False

• True

In Free Trade, it is relatively ____ for a person or company to trade with another country

Answer explanation

See slide #5

What is trade?

• Something bears do to entertain each other.

• No clue because I haven't been paying attention in class.

• The lack of natural resources.

• The sale of an item to a person or company in another country

True or false: Protectionism makes it relatively hard for a person or company to trade with another country

• Bruh...I hope this is the last question

• True

• It is both true and false

• False

What percentage of bananas does the U.S.A import?

• 99.9%

• 50%

• 74%

• What's an import?