AKS 38: Trade & Specialization in Africa

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Emphasizing which economic practice MOST helps African economies benefit from international trade? Options: specialization, generalization, raising interest rates, lowering inflation rates

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specialization

Front

Why is it important for nations to economically specialize? Options: Specialization limits the effects of globalization., Specialized economies use resources more efficiently., Specialized nations can profit from otherwise worthless goods., Specialization limits foreign influence over a nation’s economy.

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Specialized economies use resources more efficiently.

Front

Based on the information, which of the following BEST explains how nations attempted to force South Africa to abolish apartheid? Many nations imposed tariffs against South Africa during apartheid. Many nations imposed economic sanctions against South Africa during apartheid. Many nations used natural trade barriers to pressure South Africa during apartheid. Many nations provided economic subsidies in order to repair relations with South Africa during apartheid.

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Many nations imposed economic sanctions against South Africa during apartheid.

Front

What did the development of regional trade associations in Africa represent?

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an effort to remove barriers to trade between African nations

Front

What is this an example of? Options: embargo, quota, subsidy, tariff

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embargo

Front

What is this an example of? Options: embargo, quota, subsidy, tariff

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quota

Front

What is this an example of? Options: embargo, quota, subsidy, tariff

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tariff

Front

Which of the following will have the MOST influence on Mr. Obasi’s decision, provided there are no trade barriers?
the cost of raw materials and tariffs,
the cost of raw materials and sanctions,
baseline cost of the item and trade laws,
baseline cost of the item and exchange rate

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baseline cost of the item and exchange rate

Front

Which of the following explains why international trade requires a system for exchanging currencies between nations? without the ability to exchange currencies, dictatorships would be overthrown, without the ability to exchange currencies, all countries would be democracies, without the ability to exchange currencies, buyers and sellers could not properly pay each other, without the ability to exchange currencies, more countries would follow command systems than market systems

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without the ability to exchange currencies, buyers and sellers could not properly pay each other

Front

With which of the following nations would it be easiest to exchange currency? a nation in the middle of a civil conflict, a nation that has recently become democratic, a nation whose government is composed of competing ethnic groups, a nation that has operated under the same government for thirty years

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a nation that has operated under the same government for thirty years