Economic Effects Quiz

Economic Effects Quiz

Professional Development

20 Qs

quiz-placeholder

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Economic Effects Quiz

Economic Effects Quiz

Assessment

Quiz

Geography

Professional Development

Practice Problem

Hard

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a likely economic effect of a trade war between two major economies?

Increase in global trade

Decrease in domestic unemployment

Increase in consumer prices

Increase in government spending

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a country imposes tariffs on foreign goods, how might this impact the domestic economy?

It may lead to lower consumer prices.

It could increase demand for domestically-produced goods.

It might decrease government revenue.

It would always reduce inflation.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An international oil embargo would most likely lead to:

A decrease in the cost of transportation

An increase in the cost of goods that rely on oil

A surplus of oil in the embargoing countries

Stable prices in oil-dependent industries

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic measure would a country likely take in response to high levels of inflation due to a global crisis?

Raise interest rates

Lower tariffs

Decrease currency value

Increase import quotas

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The depreciation of the Canadian dollar due to an international crisis would likely:

Decrease exports

Increase exports

Decrease foreign investments in Canada

Lead to lower interest rates

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does an increase in global commodity prices impact an importing country?

Decreases the cost of living

Leads to a trade surplus

Increases inflationary pressures

Lowers the value of its currency

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential effect of a severe global recession on the Canadian economy?

Increased exports

Decreased unemployment

Reduced consumer spending

Increased stock market growth

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