Chapter 17 Quiz

Crystal uses less fabric when making t-shirts than Heidi is an example of __________________________. (Word Bank: Absolute Advantage, Comparative Advantage, Export, Import)

• Comparative Advantage

• Absolute Advantage

• Export

• Import

A product from Italy being sold in the U.S. is an example of __________________. (Word Bank: Absolute Advantage, Comparative Advantage, Export, Import)

• Import

• Absolute Advantage

• Comparative Advantage

• Export

Sending a TV to Japan to be sold is an example of a __________________. (Word Bank: Absolute Advantage, Comparative Advantage, Export, Import)

• Export

• Absolute Advantage

• Comparative Advantage

• Import

Zach being able to make more shoes per hour than Chantel is an example of __________________.

• Absolute Advantage

• Comparative Advantage

• Export

• Import

The United States purposely made all Hondas more expensive by adding a tax to them known as a __________________. (Word Bank: Trade Barrier, Import Quota, Tariff, Protectionism, Trade Surplus, Trade Deficit)

• Tariff

• Trade Barrier

• Import Quota

• Protectionism

A restriction on how many Sony televisions that can be sold in the U.S. is an example of __________________.

• Import Quota

• Trade Barrier

• Tariff

• Protectionism

The US buys more from China, than China buys from the US is called __________________. (Word Bank: Trade Barrier, Import Quota, Tariff, Protectionism, Trade Surplus, Trade Deficit)

• Trade Deficit

• Trade Surplus

• Protectionism

• Tariff

Import Quota and tariffs are examples of __________________. (Word Bank: Trade Barrier, Import Quota, Tariff, Protectionism, Trade Surplus, Trade Deficit)

• Trade Barrier

• Import Quota

• Tariff

• Protectionism

The United States use trade barriers in order to protect American Industries is called __________________. (Word Bank: Trade Barrier, Import Quota, Tariff, Protectionism, Trade Surplus, Trade Deficit)

• Protectionism

• Trade Barrier

• Import Quota

• Tariff

China buys less products from the US, than the US buys from China is called __________________. (Word Bank: Trade Barrier, Import Quota, Tariff, Protectionism, Trade Surplus, Trade Deficit)

• Trade Surplus

• Trade Barrier

• Import Quota

• Tariff