BUS 300

What significant monetary change occurred in the Philippines after gaining independence from the United States?

• Adoption of the Euro

• Use of overprinted treasury certificates with "Victory"

• Introduction of barter system

• Use of Japanese war notes

What was the first currency used for trading in the Philippines before the arrival of the Spaniards?

• Cowries

• Barter rings

• Gold

• Silver coins

How many members does the WTO have?

• 23

• 194

• 200

• 164

Who is the current Director-General of the WTO as of March 2021?

• Kristalina Georgieva

• Robert Azevêdo

• Ngozi Okonjo-Iweala

• Christine Lagarde

The "barrilla," a crude bronze or copper coin, was worth about how much?

• Five centavos

• Ten centavos

• One centavo

• Fifty centavos

What is the goal of the World Trade Organization (WTO)?

• To manage global financial systems

• To ensure smooth, predictable, and free trade flows

• To act as a global police force

• To help producers of goods and services, exporters, and importers conduct their business.

What was the precursor to the World Trade Organization (WTO) which was established by a multilateral treaty of 23 countries in 1947 after World War II?

• International Monetary Fund (IMF)

• World Bank

• General Agreement on Tariffs and Trade (GATT)

• United Nations

Which country did the Spaniards restrict Manila’s trade relations to during their rule?

• China

• India

• Japan

• Mexico

What form of trade was used among early Filipinos and neighboring countries before the adoption of currency?

• Auctions

• Barter

• Credit

• Digital transactions

What series replaced the Ang Bagong Lipunan series of banknotes?

• Flora and Fauna Coin Series

• English Series

• Guerrilla Notes

• New Design Series