Economic Concepts Quiz

Economic Concepts Quiz

8th Grade

55 Qs

quiz-placeholder

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Economic Concepts Quiz

Economic Concepts Quiz

Assessment

Quiz

History

8th Grade

Practice Problem

Medium

Created by

K Prillaman

Used 5+ times

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55 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Exports minus imports or how many goods a country exports versus imports

Balance of Trade

Quotas

Subsidy

Exports

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Limit of the amount of a good that can be imported

Exports

Quota

Subsidy

Appreciation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in the value of a currency

Appreciation

Subsidy

Depreciation

Quota

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Government payments to a local supplier to reduce the supplier costs. This helps local businesses survive because it is getting direct aid from the government

Protectionism

Balance of trade

Exchange rate

Subsidy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Measure the price of one nation’s currency in terms of another nation’s currency

balance of trade

exchange rate

appreciation

depreciation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a nation imports more than it exports, economists say it has which of the following?

A trade deficit

A balance of trade

A trade surplus

A national difference

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens when a nation’s currency depreciates?

Nothing happens to the trade balance

It halts all trade

Its products become cheaper to other nations and exports may increases

Its products become more expensive to other nations

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